Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0656 (closing of Friday's daily candle) with a target of 1.0707, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0725, the 14.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – 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 1.0656 (closing of Friday's daily candle) with a target of 1.0707, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0725, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.0656 (closing of Friday's daily candle) with a target of 1.0707, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible with a target of 1.0695, the 8-period EMA (blue thin line).
