Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0566 (closing of yesterday's daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a continued upward movement is possible with a target of 1.0643, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis :
- Indicator analysis – 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 1.0566 (closing of yesterday's daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a continued upward movement is possible with a target of 1.0643, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.0566 (closing of yesterday's daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a downward movement is possible with a target of 1.0569, the 14.6% pullback level (red dotted line).
