Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0052 (close of yesterday's daily candle) to test 1.0013, the 85.4% retracement level (blue dotted line). Upon reaching this level, an upward movement is possible to 1.0079, the 38.2% retracement level (white dotted line). From this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion:
Today, the price may move downward from the level of 1.0052 (close of yesterday's daily candle) to test 1.0013, the 85.4% retracement level (blue dotted line). Upon reaching this level, an upward movement is possible to 1.0079, the 38.2% retracement level (white dotted line). From this level, the price may continue to move up.
Alternative scenario: from the level of 1.0052 (close of yesterday's daily candle), the price may move downward to test the support level of 0.9952 (thick blue line). Upon reaching this level, an upward movement is possible to 1.0010, the 23.6% retracement level (white dotted line).
