Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0793 (closing of yesterday's daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0862, the 50% pullback level (blue dotted line). Much will depend on the news at 19:00 UTC.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – down;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion: Today, the price may move downward from the level of 1.0793 (closing of yesterday's daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0862, the 50% pullback level (blue dotted line). Much will depend on the news at 19:00 UTC.
Alternatively, the price may move downward from the level of 1.0793 (closing of yesterday's daily candle) to 1.0722, the historical resistance level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0766, the 50% pullback level (yellow dotted line).
