Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9777 (closing of yesterday's daily candle) to 0.9854, the 38.2% retracement level (blue dotted line). Upon reaching this level, continued upward movement is possible to the 0.9922 resistance level (thick red line). When testing 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 – down;
- Weekly chart – up.
General conclusion:
Today the price may move upward from the level of 0.9777 (closing of yesterday's daily candle) to 0.9854, the 38.2% retracement level (blue dotted line). Upon reaching this level, continued upward movement is possible to the 0.9922 resistance level (thick red line). When testing this level, the price may roll back down.
Alternatively, the price may move upward from the level of 0.9777 (closing of yesterday's daily candle) to 0.9853, the 38.2% retracement level (blue dotted line). Upon reaching this level, a downward movement is possible with the target of 0.9821, the 38.2% retracement level (red dotted line). When testing this level, the price may move up
