Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9738 (close of Friday's daily candle) to the target of 0.9712, the 61.8% retracement level (red dotted line). After testing this level, an upward movement is possible with the target of 0.9853, the 38.2% retracement level (blue dotted line). After testing this level, the price may roll back down to test 0.9890, the 23.6% retracement level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- 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 0.9738 (close of Friday's daily candle) to the target of 0.9712, the 61.8% retracement level (red dotted line). After testing this level, an upward movement is possible with the target of 0.9853, the 38.2% retracement level (blue dotted line). After testing this level, the price may roll back down to test 0.9890, the 23.6% retracement level (red dotted line).
Alternatively, the price may move downward from the level of 0.9738 (close of Friday's daily candle) to the target of 0.9645, the 76.4% retracement level (red dotted line). From this level, an upward pullback is possible with the target of 0.9731, the 23.6% retracement level (blue dotted line).
