Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9721 (closing of Friday's daily candle) to the target of 0.9772, the 38.2% retracement level (blue dotted line). After testing this level, continued upward movement is possible with the target of 0.9815, the 50% retracement level (blue dotted line). Upon reaching this level, the price may roll back down to 0.9767, the 38.2% 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 upward from the level of 0.9721 (closing of Friday's daily candle) to the target of 0.9772, the 38.2% retracement level (blue dotted line). After testing this level, continued upward movement is possible with the target of 0.9815, the 50% retracement level (blue dotted line). Upon reaching this level, the price may roll back down to 0.9767, the 38.2% retracement level (red dotted line).
Alternatively, the price may move upward from the level of 0.9721 (closing of Friday's daily candle) with the target of 0.9772, the 38.2% retracement level (blue dotted line). After testing this level, a downward movement is possible with the target of 0.9712, the 61.8% retracement level (red dotted line). The price may move upward from this level with the target of 0.9773, the 38.2% retracement level (blue dotted line).
