Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0593 (closing of Friday's daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0615, the historical resistance level (blue dotted line). From this level, the price may continue to move up.
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.
Today, the price may move downward from the level of 1.0593 (closing of Friday's daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0615, the historical resistance level (blue dotted line). From this level, the price may continue to move up.
Alternatively, the price may move downward from the level of 1.0593 (closing of Friday's daily candle) to the 1.0541 support level (white bold line). In the case of testing this level, an upward movement is possible with a target at 1.0569, the 14.6% pullback level (blue dotted line).
