Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0796 (closing of yesterday's daily candle) to 1.0835, the 61.8% pullback level (red dotted line). Upon reaching this level, continued upward movement is possible to 1.0869, the 14.6% pullback level (yellow dotted line). When testing this level, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - 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 1.0796 (closing of yesterday's daily candle) to 1.0835, the 61.8% pullback level (red dotted line). Upon reaching this level, continued upward movement is possible to 1.0869, the 14.6% pullback level (yellow dotted line). When testing this level, the price may move down.
Alternatively, the price may move upward from the level of 1.0796 (closing of yesterday's daily candle) to test 1.0835, the 61.8% pullback level (red dotted line). When testing this level, a downward movement is possible with the target of 1.0771, the 38.2% pullback level (yellow dotted line).
