Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.1001 (closing of yesterday's daily candle) to test 1.1051, the 38.2% pullback level (blue dotted line). From this level, a continued upward movement is possible with the target at 1.1093, the 50% pullback level (blue dotted line).
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 upward from the level of 1.1001 (closing of yesterday's daily candle) to test 1.1051, the 38.2% pullback level (blue dotted line). From this level, a continued upward movement is possible with the target at 1.1093, the 50% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.1001 (closing of yesterday's daily candle) to test 1.0964, the 14.6% pullback level (blue dotted line). From this level, an upward movement is possible with the target at 1.1051, the 38.2% pullback level (blue dotted line). When testing this level, the price may continue to move up.
