Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0741 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.0783 (red dotted line). After that, the price may continue to move upward with a target of 1.0821, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Volumes – up;
- Candlestick analysis – up;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – up.
General conclusion: Today, the price may move upward from the level of 1.0741 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.0783 (red dotted line). After that, the price may continue to move upward with a target of 1.0821, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.0741 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.0783 (red dotted line). After that, the price may move downward with a target of 1.0769, the historical support level (blue dotted line).
