Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9966 (close of yesterday's daily candle) to the target of 0.9900, the lower fractal (white dotted line). After testing this level, the price may move up with the target of 1.0001, the 14.6% retracement level (white dotted line). Upon reaching this level, continued upward movement is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion:
Today the price may move downward from the level of 0.9966 (close of yesterday's daily candle) to the target of 0.9900, the lower fractal (white dotted line). After testing this level, the price may move up with the target of 1.0001, the 14.6% retracement level (white dotted line). Upon reaching this level, continued upward movement is possible.
Alternative scenario: from the level of 0.9966 (close of yesterday's daily candle), the price may move upward to the target of 1.0179, the 38.2% retracement level (white dotted line). After testing this level, the price may roll back down.
