Forex: EUR/USD - Possible Scenarios For Euro Against US Dollar

The EUR/AUD Pair May Have The Potential To Continue Its Decline

Relevance up to 08:00 2022-07-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0035 (close of yesterday's daily candle) to the target of 1.0089, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0144, the 23.6% retracement level (red dotted line). Upon reaching this level, continued upward movement is possible.

 

Exchange Rates 13.07.2022 analysis

 

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – up;
  • Volumes – up;
  • Candlestick analysis – up;
  • Trend analysis – down;
  • Bollinger bands – up;
  • Weekly chart – down.

General conclusion:

Today, the price may move upward from the level of 1.0035 (close of yesterday's daily candle) to the target of 1.0089, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0144, the 23.6% retracement level (red dotted line). Upon reaching this level, continued upward movement is possible.

Alternative scenario: from the level of 1.0035 (close of yesterday's daily candle), the price may move downward with the target of 0.9945, the 261.8% Fibonacci retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0000, the lower fractal (red dotted line). Upon reaching this level, the price may move up.

 

Read more: https://www.instaforex.eu/forex_analysis/316012

The EUR/AUD Pair May Have The Potential To Continue Its Decline

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