Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0736 (closing of yesterday's daily candle) to 1.0710, the 14.6% pullback level (red dotted line). Upon reaching this level, an upward movement is possible with the target at 1.0799, the 38.2% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.0736 (closing of yesterday's daily candle) to 1.0710, the 14.6% pullback level (red dotted line). Upon reaching this level, an upward movement is possible with the target at 1.0799, the 38.2% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.0736 (closing of yesterday's daily candle) to 1.0679, the 23.6% pullback level (yellow dotted line). Upon reaching this level, an upward movement is possible with the target at 1.0710, the 14.6% pullback level (red dotted line).
