Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0849 (closing of yesterday's daily candle) to test the upper fractal at 1.0888 (daily candle from 22/02/2024). From here, a continued upward movement is possible with a target of 1.0917, the 50% pullback level (red dotted line). Upon reaching this level, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – up;
- Volumes – up;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – up;
- Weekly chart – up.
General conclusion: Today, the price may move upward from the level of 1.0849 (closing of yesterday's daily candle) to test the upper fractal at 1.0888 (daily candle from 22/02/2024). From here, a continued upward movement is possible with a target of 1.0917, the 50% pullback level (red dotted line). Upon reaching this level, the price may move down.
Alternatively, from the level of 1.0849, the price may move up to test the upper fractal at 1.0888 (daily candle from 22/02/2024), and after that, the price may move downward with a target of 1.0864, the 38.2% pullback level (red dotted line) line).
