Trend analysis (Fig. 1)
On Thursday, from the level of 0.9963 (closing of yesterday's daily candle), EUR/USD will attempt to continue moving up in order to test 1.0079, which is the 38.2% retracement level (dotted white line). Upon reaching this level, the pair will go to the 76.4% retracement level at 1.0050 (dashed blue line), then continue rising up.
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Weekly chart - uptrend
Conclusion: EUR/USD will rise from 0.9963 (closing of yesterday's daily candle) and test the 38.2% retracement level at 1.0079 (dotted white line). Then, it will go to the 76.4% retracement level at 1.0050 (dashed blue line), before bouncing further up.
Alternatively, the pair could increase from 0.9963 (closing of yesterday's daily candle) to the historical resistance level of 1.0120 (blue dotted line), then fall down to the 76.4% retracement level at 1.0050 (dashed blue line). Quotes may continue to move up from this level.
