Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.1049 (closing of Friday's daily candle) to test 1.0882, the 61.8% pullback level (yellow dotted line). After that, an upward movement is possible to 1.0904, the 61.8% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Volumes – 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 1.1049 (closing of Friday's daily candle) to test 1.0882, the 61.8% pullback level (yellow dotted line). After that, an upward movement is possible to 1.0904, the 61.8% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.1049 (closing of Friday's daily candle) to test 1.0904, the 61.8% pullback level (red dotted line). After that, the price may move upward to the 1.0920 resistance level (white thick line).
