Trend analysis (Fig. 1)
EUR/USD, moving upwards from the level of 1.1051 (closing price of yesterday's daily candle), will test the 38.2% retracement level of 1.1106 (red dashed line) on Wednesday, and then head towards the 23.6% retracement level of 1.1171 (red dashed line).
Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - downtrend
Bollinger bands - uptrend
Weekly chart - uptrend
Conclusion: EUR/USD will rise from the level of 1.1051 (closing price of yesterday's daily candle) to the 38.2% retracement level of 1.1106 (red dashed line), followed by a move towards the 23.6% retracement level of 1.1171 (red dashed line).
Alternatively, the pair could go up from the level of 1.1051 (closing price of yesterday's daily candle) to the 38.2% retracement level of 1.1106 (red dashed line), and then start a downward movement towards the 50.0% retracement level of 1.1088 (red dashed line).
