Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward and test 1.0947, the 76.4% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible with a target at 1.0973, the 85.4% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Fibonacci levels – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – down;
- Bollinger bands – down;
- Daily chart – up.
General conclusion: Today, the price may move upward from the level of 1.0921 (closing of yesterday's daily candle) to test 1.0947, the 76.4% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible with a target at 1.0973, the 85.4% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.0921 (closing of yesterday's daily candle) to 1.0947, the 76.4% pullback level (red dotted line). Upon testing this level, a downward movement is possible with a target at 1.0904, the 61.8% pullback level (red dotted line).
