Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9978 (close of yesterday's daily candle) to 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, a continued upward movement is possible with the target of 1.0042, the 21-period EMA (thin black line). When testing this level, the price may move downward to 1.0002, the 13-period EMA (thin yellow 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 0.9978 (close of yesterday's daily candle) to 1.0011, the 23.6% retracement level (white dotted line). Upon reaching this level, a continued upward movement is possible with the target of 1.0042, the 21-period EMA (thin black line). When testing this level, the price may move downward to 1.0002, the 13-period EMA (thin yellow line). From this level, the price may move up.
Alternative scenario: from the level of 0.9978 (close of yesterday's daily candle), the price may move upward to 1.0011, the 23.6% retracement level (white dotted line). When testing this level, a downward movement is possible towards the support level 0.9951 (thick blue line). When testing this level, the price may move up.
