Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9702 (closing of yesterday's daily candle) to 0.9645, the 76.4% retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9732, the 23.6% retracement level (blue dotted line). From this level, the price may continue to move up with the target of 0.9853, the 38.2% retracement level (blue dotted line).
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 downward from the level of 0.9702 (closing of yesterday's daily candle) to 0.9645, the 76.4% retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9732, the 23.6% retracement level (blue dotted line). From this level, the price may continue to move up with the target of 0.9853, the 38.2% retracement level (blue dotted line).
Alternatively, the price may move upward from the level of 0.9702 (closing of yesterday's daily candle) with the target of 0.9768, the 8-period EMA (thin blue line). When testing this level, a downward movement is possible to 0.9712, the 61.8% retracement level (red dotted line). In the case of testing this level, the price may move up.
