Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0764 (closing of yesterday's daily candle) to 1.0781, the 5-day EMA (red thin line). From this level, a downward movement is possible with the target of 1.0707, the 61.8% pullback level (yellow dotted line). Much will depend on the news.
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 upward from the level of 1.0764 (closing of yesterday's daily candle) to 1.0781, the 5-day EMA (red thin line). From this level, a downward movement is possible with the target of 1.0707, the 61.8% pullback level (yellow dotted line). Much will depend on the news.
Alternatively, the price may move upward from the level of 1.0764 (closing of yesterday's daily candle) to test 1.0799, the 8-day EMA (thin blue line). From this level, a downward movement is possible with the target of 1.0707, the 61.8% pullback level (yellow dotted line). Much will depend on the news.
