Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9983 (close of yesterday's daily candle) to the target of 0.9931, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible with the target of 1.0050, the 61.8% retracement level (blue dotted line). When testing this level, the price may continue to move up with the target of 1.0170, the 76.4% retracement level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – down;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion:
Today, the price may move downward from the level of 0.9983 (close of yesterday's daily candle) to the target of 0.9931, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible with the target of 1.0050, the 61.8% retracement level (blue dotted line). When testing this level, the price may continue to move up with the target of 1.0170, the 76.4% retracement level (blue dotted line).
Alternatively, the price may move up from the level of 0.9983 (close of yesterday's daily candle) to 1.0050, the 61.8% retracement level (blue dotted line). After testing this level, the price may move down to test the support level at 0.9990 (thick red line).
