Trend analysis (Fig. 1)
EUR/USD may start moving upwards, starting from the level of 1.0596 (closing of Thursday's daily candle) towards the 23.6% retracement level at 1.0650 (red dotted line). Upon testing the level, it will continue going up to the 38.2% retracement level at 1.0723 (red dotted line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - downtrend
Weekly chart - uptrend
Conclusion: EUR/USD will rise from 1.0596 (closing of Thursday's daily candle) to the 23.6% retracement level at 1.0650 (red dotted line), and then head towards the 38.2% retracement level at 1.0723 (red dotted line).
Alternatively, the pair could climb up from 1.0596 (closing of Thursday's daily candle) to the 23.6% retracement level at 1.0650 (red dotted line), and then bounce down the 8 EMA at 1.0618 (blue thin line).
