Relevance up to 09:00 2022-07-12 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 downward from the level of 1.0185 (close of Friday's daily candle) to test the historical support level of 1.0114 (blue dotted line). From this level, an upward movement is possible with the target of 1.0150, the 14.6% retracement level (red dotted line). After testing this level, the p[rice may continue to move upward with the target of 1.0200, the 23.6% 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 the price may move downward from the level of 1.0185 (close of Friday's daily candle) to test the historical support level of 1.0114 (blue dotted line). From this level, an upward movement is possible with the target of 1.0150, the 14.6% retracement level (red dotted line). After testing this level, the p[rice may continue to move upward with the target of 1.0200, the 23.6% retracement level (red dotted line).
Alternative scenario: from the level of 1.0185 (close of Friday's daily candle), the price may move downward with the target of 1.0072, the lower fractal (red dotted line). After testing this level, an upward movement is possible with the target of 1.0150, the 14.6% retracement level (red dotted line).
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