Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0851 (closing of yesterday's daily candle) to 1.0833, the 14.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0895 (daily candle from 16/11/2023).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion: Today, the price may move downward from the level of 1.0851 (closing of yesterday's daily candle) to 1.0833, the 14.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0895 (daily candle from 16/11/2023).
Alternatively, the price may move downward from the level of 1.0851 (closing of yesterday's daily candle) to 1.0799, the 23.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0895 (daily candle from 16/11/2023).
