Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9966 (close of yesterday's daily candle) to the target of 1.0056, the 38.8% retracement level (white dotted line). When testing this level, a downward price movement is possible with the target of 1.0030, the 50.0% retracement level (red dotted line). After reaching this level, the price may move up with the target of 1.0116, the 50.0% retracement level (white dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion:
Today the price may move upward from the level of 0.9966 (close of yesterday's daily candle) to the target of 1.0056, the 38.8% retracement level (white dotted line). When testing this level, a downward price movement is possible with the target of 1.0030, the 50.0% retracement level (red dotted line). After reaching this level, the price may move up with the target of 1.0116, the 50.0% retracement level (white dotted line).
Alternative scenario: from the level of 0.9966 (close of yesterday's daily candle), the price may move downward with the target of 0.9942, the 76.4% retracement level (red dotted line). After testing this level, an upward movement is possible to test 1.0056, the 38.2% retracement level (white dotted line).
