Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0503 (closing of yesterday's daily candle) to 1.0568, the 14.6% pullback level (blue dotted line). From this level, a continued upward movement is possible with a target of 1.0642, the 23.6% 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 1.0503 (closing of yesterday's daily candle) to 1.0568, the 14.6% pullback level (blue dotted line). From this level, a continued upward movement is possible with a target of 1.0642, the 23.6% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.0503 (closing of yesterday's daily candle) to 1.0568, the 14.6% pullback level (blue dotted line). From this level, the price may move downward with a target of 1.0531, the 8-period EMA (blue thin line).
