Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.1234 (closing of yesterday's daily candle) to test 1.1299, the 261.8% price level (blue dotted line). After testing this level, a downward movement is possible with a target of 1.1234, the upper fractal (red dotted line). In the case of testing this level, the price may move up.
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 1.1234 (closing of yesterday's daily candle) to test 1.1299, the 261.8% price level (blue dotted line). After testing this level, a downward movement is possible with a target of 1.1234, the upper fractal (red dotted line). In the case of testing this level, the price may move up.
Alternatively, the price may move upward from the level of 1.1234 (closing of yesterday's daily candle) to test 1.1377, the historical resistance level (blue dotted line). After testing this level, the market may go down.
