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Trend analysis:
EUR/USD may continue to move upward in April, rising from the level of 1.0793 (closing of the March monthly candle) to the 61.8% retracement level of 1.0959 (red dashed line). Following this will be a further increase toward the 76.4% retracement level of 1.1080 (red dashed line).
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Conclusion: All signals point to an upward movement in EUR/USD.
Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the monthly white candle (first week of the month - white) and a second upper shadow (last week of the month - black).
Therefore, this month, euro will climb from 1.0793 (closing of the March monthly candle) to the 61.8% retracement level of 1.0959 (red dashed line), followed by a further rise toward the 76.4% retracement level of 1.1080 (red dashed line).
Alternatively, it could increase from 1.0793 (closing of the February monthly candle) to the 14.6% retracement level of 1.1021 (yellow dashed line), and then drop to the 61.8% retracement level of 1.0959 (red dashed line).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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