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Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 1.0395 (closing of Friday's daily candle) to 1.0302, the 23.6% retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0456, the 85.4% retracement level (yellow dotted line). When this level is reached, the price may roll back down.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.0395 (closing of Friday's daily candle) to 1.0302, the 23.6% retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0456, the 85.4% retracement level (yellow dotted line). When this level is reached, the price may roll back down.
Alternatively, the price may move downward from the level of 1.0395 (closing of Friday's daily candle) to 1.0344, the 8-period EMA (thin blue line). After testing this level, an upward movement is possible with the target of 1.0456, the 85.4% retracement level (yellow dotted line). When this level is reached, the price may move down.
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