Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0615 (closing of yesterday's daily candle) to test 1.0587, the 8-period EMA (blue thin line). Upon testing this level, an upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line). In the case of testing this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion: Today, the price may move downward from the level of 1.0615 (closing of yesterday's daily candle) to test 1.0587, the 8-period EMA (blue thin line). Upon testing this level, an upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line). In the case of testing this level, the price may continue to move up.
Alternatively, the price may move downward from the level of 1.0615 (closing of yesterday's daily candle) to test 1.0587, the 8-period EMA (blue thin line). Upon testing this level, an upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line). In the case of testing this level, the price may move down.
