Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0592 (closing of yesterday's daily candle) to test the 1.0568 support level (red thick line). Upon testing this level, the price may move upward with a target of 1.0621, the 5-period EMA (red thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion: Today, the price may move downward from the level of 1.0592 (closing of yesterday's daily candle) to test the 1.0568 support level (red thick line). Upon testing this level, the price may move upward with a target of 1.0621, the 5-period EMA (red thin line).
Alternatively, the price may move downward from the level of 1.0592 (closing of yesterday's daily candle) to test 1.0519, the historical support level (blue dotted line). Upon testing this level, an upward movement is possible with a target of 1.0641, the 8-period EMA (blue thin line).
