The pair traded downward on Friday. Today, an upward trend is expected. According to the economic calendar, euro news is expected at 13:45 UTC.
Trend analysis (Fig. 1).
The market may move upward from the level of 1.1634 (closing of Friday's daily candlestick) with the target at the resistance level 1.1668 (black thick line). In case of testing this line, the upward movement will continue with the next target of 1.1761 - a 21-day EMA (black thin line).
Figure: 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - up;
- Weekly chart - up.
General conclusion:
Today, the price may move upward from the level of 1.1634 (closing of Friday's daily candlestick) with the target at the resistance level 1.1668 (black bold line). In case of testing this line, the upward movement will continue with the next target of 1.1761 - a 21-day EMA (black thin line).
Another possible scenario: from the level of 1.1634 (closing of Friday's daily candlestick), the price may move down with the target at the historical support level 1.1544 (blue dotted line).
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