Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0980 (closing of yesterday's daily candle) to 1.1061, the upper fractal (daily candle from 08/10/2023). In the case of testing this level, a downward movement is possible with the target at 1.1042, the upper fractal (daily candle from 08/04/2023).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger bands - bottom;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.0980 (closing of yesterday's daily candle) to 1.1061, the upper fractal (daily candle from 08/10/2023). In the case of testing this level, a downward movement is possible with the target at 1.1042, the upper fractal (daily candle from 08/04/2023).
Alternatively, the price may move upward from the level of 1.0980 (closing of yesterday's daily candle) with the target at 1.0997, the 23.6% pullback level (blue dotted line). From this level, the price may move down.
