Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9944 (close of yesterday's daily candle) to 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, work upwards 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 upward from the level of 0.9944 (close of yesterday's daily candle) to 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, work upwards with the target of 1.0079, the 38.2% retracement level (white dotted line).
Alternative scenario: from the level of 0.9944 (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, a continued upward move is possible.
