Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9815 (close of yesterday's daily candle) to test the 0.9796 support level (thick blue line). Upon reaching this level, an upward movement is possible to 0.9866, the 50.0% retracement level (blue dotted line). From this level, the price may continue to move up.
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 0.9815 (close of yesterday's daily candle) to test the 0.9796 support level (thick blue line). Upon reaching this level, an upward movement is possible to 0.9866, the 50.0% retracement level (blue dotted line). From this level, the price may continue to move up.
Alternatively, the price may move downward from the level of 0.9815 (close of yesterday's daily candle) to test 0.9748, the 61.8% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to 0.9866, the 50% retracement level (blue dotted line). From this level, the price may continue to move up.
