Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9973 (close of yesterday's daily candle) to the support level of 0.9952 (thick blue line). After testing this level, an upward movement is possible with the target of 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.0079, the 38.2% retracement level (white dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion:
Today the price may move downward from the level of 0.9973 (close of yesterday's daily candle) to the support level of 0.9952 (thick blue line). After testing this level, an upward movement is possible with the target of 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.0079, the 38.2% retracement level (white dotted line).
Alternative scenario: from the level of 0.9973 (close of yesterday's daily candle), the price may move down to the lower fractal 0.9900 (white dotted line). After testing this level, work up with the target of 0.9968, the 14.6% retracement level (white dotted line). When testing this level, work up.
