Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0393 (close of yesterday's daily candle) to 1.0302, the 23.6% retracement level (blue dotted line). From this level, an upward movement is possible to the upper fractal at 1.0479 (blue dotted line).
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 - up.
General conclusion:
On Thursday, the price may move downward from the level of 1.0393 (close of yesterday's daily candle) to 1.0302, the 23.6% retracement level (blue dotted line). From this level, an upward movement is possible to the upper fractal at 1.0479 (blue dotted line).
Alternatively, the price may move downward from the level of 1.0393 (close of yesterday's daily candle) to test 1.0329, the 5-period EMA (thin red line). Upon reaching this level, the price may move upward to 1.0456, the 85.4% retracement level (yellow dotted line).
