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Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0159 (close of yesterday's daily candle) to 1.0110, the 61.8% retracement level (blue dotted line). When testing this level, an upward movement is possible to 1.0203, the 38.2% retracement level (red dotted line). From this level, the price may continue to move upward.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today the price may move downward from the level of 1.0159 (close of yesterday's daily candle) to 1.0110, the 61.8% retracement level (blue dotted line). When testing this level, an upward movement is possible to 1.0203, the 38.2% retracement level (red dotted line). From this level, the price may continue to move upward.
Alternative scenario: from the level of 1.0159 (close of yesterday's daily candle), the price may move downward to 1.0093, the lower border of the Bollinger line indicator (black dotted line). When testing this level, an upward movement is possible to 1.0204, the 38.2% retracement level (red dotted line). When testing this level, the price may continue to move up.
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