Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9884 (close of yesterday's daily candle) to test the resistance level of 0.9980 (thick red line). Upon reaching this level, the upward movement may continue with the target at 1.0050, the 61.8% retracement level (blue dotted line). From this level, the price may roll back down.
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 0.9884 (close of yesterday's daily candle) to test the resistance level of 0.9980 (thick red line). Upon reaching this level, the upward movement may continue with the target at 1.0050, the 61.8% retracement level (blue dotted line). From this level, the price may roll back down.
Alternatively, the price may move upward from the level of 0.9884 (close of yesterday's daily candle) to test the resistance level 0.9980 (thick red line). Upon reaching this level, a downward movement is possible to 0.9890, the 23.6% retracement level (red dotted line).
