Trend Analysis (Fig. 1)
Today, the market may continue the downward movement from the 1.0853 level (the close of yesterday's daily candle) with a target at 1.0840 – the 38.2% retracement level (red dotted line). Upon testing this level, the price may begin to rise with a target at 1.0881 – the 38.2% retracement level (red dotted line).
Fig. 1 (daily chart)
Comprehensive Analysis:
- Indicator Analysis – Up
- Fibonacci Levels – Up
- Volumes – Up
- Candlestick Analysis – Up
- Trend Analysis – Up
- Bollinger Bands – Up
- Weekly Chart – Up
General Conclusion:
Today, EUR/USD may continue the downward movement from the 1.0853 (the close of yesterday's daily candle) with a target at 1.0840 – the 38.2% retracement level (red dotted line). Upon testing this level, the price may begin to rise with a target at 1.0881 – the 38.2% retracement level (red dotted line).
Alternative Scenario: The price may continue the downward movement from the level of 1.0853 (the close of yesterday's daily candle) with a target at 1.0825 – the 21-day simple moving average (black dotted line). Upon testing this line, the price may bounce upward with a target at 1.0881 – the 38.2% retracement level (red dotted line).
