Yesterday, the euro/dollar pair bounced off the lower fractal - 1.1781 (blue dotted line), made an upward movement, and tested the 14.6% retracement level, 1.1852 (blue dotted line). And then, it went down, closing the daily candlestick at 1.1844. Today, it may continue to move up. And as per the economic calendar, news is expected at 10.00 and 11.30 UTC (euro) and 15.00 UTC (dollar).

Trend analysis (Fig. 1).

Today, the market from the level of 1.1844 (closing of yesterday's daily candlestick) is expected to rise and try to reach the historical support level of 1.1811 (blue dotted line). After testing this level, it is likely to continue moving upward with the target at 1.1852 - the retracement level of 14.6% (blue dashed line). Upon reaching this level, it may further move upward with the target of 1.1895 - the retracement level of 23.6% (blue dashed 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 from the level of 1.1844 (closing of yesterday's daily candlestick) is expected to rise and try to reach the historical support level of 1.1811 (blue dotted line). After testing this level, it is likely to continue moving upward with the target at 1.1852 - the retracement level of 14.6% (blue dashed line). Upon reaching this level, it may further move upward with the target of 1.1895 - the retracement level of 23.6% (blue dashed line).

Alternative scenario: the price from the level of 1.1844 (closing of yesterday's daily candlestick) will try to continue moving downward with the target at 1.1811 - the historical support level (blue dotted line). Once this line is tested, the downward movement may continue with the target of 1.781 - the lower fractal (blue dotted line).