Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9706 (closing of yesterday's daily candle) to 0.9732, the 23.6% retracement level (blue dotted line). When testing this level, continued upward movement is possible with the target of 0.9853, the 38.2% retracement level (blue dotted line). In the case of testing this level, the price may move down.
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 upward from the level of 0.9706 (closing of yesterday's daily candle) to 0.9732, the 23.6% retracement level (blue dotted line). When testing this level, continued upward movement is possible with the target of 0.9853, the 38.2% retracement level (blue dotted line). In the case of testing this level, the price may move down.
Alternatively, the price may move upward from the level of 0.9706 (closing of yesterday's daily candle) with the target of 0.9732, the 23.6% retracement level (blue dotted line). After testing this level, the price may move downward to test 0.9645, the 76.4% retracement level (red dotted line). From this level, upward movement is possible.
