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FX.co ★ Indicator analysis: Daily review of EUR/USD on June 29, 2022

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Forex Analysis:::2022-06-29T08:00:11

Indicator analysis: Daily review of EUR/USD on June 29, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from 1.0519 (close of yesterday's daily candle) to the target of 1.0486, the 50% retracement level (red dotted line). After testing this level, the price may continue to move downward with the target of 1.0456, the 61.8% retracement (red dotted line). Upon reaching this level, the price may move up.

Indicator analysis: Daily review of EUR/USD on June 29, 2022

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from 1.0519 (close of yesterday's daily candle) to the target of 1.0486, the 50% retracement level (red dotted line). After testing this level, the price may continue to move downward with the target of 1.0456, the 61.8% retracement (red dotted line). Upon reaching this level, the price may move up.

Alternative scenario: from the level of 1.0519 (close of yesterday's daily candle), the price may move downward with the target of 1.0486, the 50% retracement level (red dotted line). After testing this level, an upward movement is possible with the target of 1.0522, the 38.2% retracement level (yellow dotted line). Upon reaching this level, the price may move up.

Analyst InstaForex
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