Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0352 (close of Friday's daily candle) to 1.0270, the 14.6% retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0367, the upper fractal (blue dotted line). Upon reaching this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - down.
General conclusion:
Today the price may move downward from the level of 1.0352 (close of Friday's daily candle) to 1.0270, the 14.6% retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0367, the upper fractal (blue dotted line). Upon reaching this level, the price may continue to move up.
Alternatively, the price may decline from 1.0352 (close of Friday's daily candle) to 1.0214, the 23.6% retracement level (blue dotted line). When testing this level, an upward movement is possible with the target of 1.0367, the upper fractal (yellow dotted line).
