Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0685 (closing of Friday's daily candle) to 1.0664, the 38.2% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0699 23.6% (yellow dotted line). Upon reaching this level, the price may continue to move upward to 1.0707, the historical resistance level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – up;
- Weekly chart – down.
Today, the price may move downward from the level of 1.0685 (closing of Friday's daily candle) to 1.0664, the 38.2% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0699 23.6% (yellow dotted line). Upon reaching this level, the price may continue to move upward to 1.0707, the historical resistance level (blue dotted line).
Alternatively, the price may move downward from the level of 1.0685 (closing of Friday's daily candlestick) to 1.0636, the 50% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0699, the 23.6% pullback level (yellow dotted line).
