Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9979 (close of yesterday's daily candle) to test 0.9942, the 76.4% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to 1.0060, 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 – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion:
Today, the price may move downward from the level of 0.9979 (close of yesterday's daily candle) to test 0.9942, the 76.4% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to 1.0060, the 38.2% retracement level (white dotted line). From this level, the price may continue to move up.
Alternative scenario: from the level of 0.9979 (close of yesterday's daily candle), the price may move downward to test 0.9912, the 85.4% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to 0.9982, the 23.6% retracement level (white dotted line). From this level, the price may continue to move up.
