Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9997 (close of yesterday's daily candle) to 1.0079, the 38.2% retracement level (white dotted line). When testing this level, a downward movement is possible to 1.0050, the 76.4% retracement level (blue dotted line). From this level, the price may move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion:
Today, the price may move upward from the level of 0.9997 (close of yesterday's daily candle) to 1.0079, the 38.2% retracement level (white dotted line). When testing this level, a downward movement is possible to 1.0050, the 76.4% retracement level (blue dotted line). From this level, the price may move up.
Alternative scenario: from the level of 0.9997 (close of yesterday's daily candle), the price may move down to the support level 0.9952 (dark blue line). When testing this level, an upward movement is possible to 1.0011, the 23.6% retracement level (white dotted line). When testing this level, the price may continue to move up.
