Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0571 (closing of yesterday's daily candle) with a target of 1.0519, the historical support level (blue dotted line). Upon reaching this level, an upward movement is possible with a target of 1.0598, the 5-period EMA (red thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion: Today, the price may move downward from the level of 1.0571 (closing of yesterday's daily candle) with a target of 1.0519, the historical support level (blue dotted line). Upon reaching this level, an upward movement is possible with a target of 1.0598, the 5-period EMA (red thin line).
Alternatively, the price may move downward from the level of 1.0571 (closing of yesterday's daily candle) with a target of 1.0500, the lower limit of the Bollinger Band indicator (black dotted line). Upon reaching this level, the price may move upward with a target of 1.0598, the 5-period EMA (red thin line).
