Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0363 (close of yesterday's daily candle) to the upper fractal at 1.0479 (blue dotted line). When testing this level, a downward pullback is possible.
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 upward from the level of 1.0363 (close of yesterday's daily candle) to the upper fractal at 1.0479 (blue dotted line). When testing this level, a downward pullback is possible.
Alternatively, the price may move downward from the level of 1.0363 (close of yesterday's daily candle) to 1.0286, the 8-period EMA (thin blue line). Upon reaching this level, an upward movement is possible with the target of 1.0456, the 85.4% retracement level (yellow dotted line).
