Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0608 (closing of yesterday's daily candle) to the 1.0552 support level (thick blue line). From this level, an upward movement is possible with the target at 1.0605, the 14.6% pullback level (red dotted line). Upon reaching this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - down;
- Weekly chart - up.
General conclusion:
Today, the price may move downward from the level of 1.0608 (closing of yesterday's daily candle) to the 1.0552 support level (thick blue line). From this level, an upward movement is possible with the target at 1.0605, the 14.6% pullback level (red dotted line). Upon reaching this level, the price may continue to move up.
Alternatively, the price may move downward from the level of 1.0608 (closing of yesterday's daily candle) to test 1.0533, the lower fractal (red dotted line). When testing this level, the price may move up.
