Trend analysis (Fig. 1).
The euro-dollar pair may move downward from the level of 0.9953 (close of Friday's daily candle) to the target of 0.9900, the lower fractal (white dotted line). After testing this level, an upward movement is possible to test 0.9968, the 14.6% retracement level (white dotted line). From this level, the price may continue to move up.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today the price may move downward from the level of 0.9953 (close of Friday's daily candle) to the target of 0.9900, the lower fractal (white dotted line). After testing this level, an upward movement is possible to test 0.9968, the 14.6% retracement level (white dotted line). From this level, the price may continue to move up.
Alternative scenario: from the level of 0.9953 (close of Friday's daily candle), the price may move downward to test 0.9803, the 208% Fibonacci retracement level (blue dotted line). After testing this level, an upward movement is possible with the target at 0.9900, the lower fractal (white dotted line).
Relevance up to 08:00 2022-09-06 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.
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