Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0560, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0658 (daily candle from 12/20/2022). From this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0560, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0658 (daily candle from 12/20/2022). From this level, the price may continue to move up.
Alternatively, the price may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0566, the 13-period EMA (thin yellow line). From this level, the price may move up.
