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FX.co ★ Indicator analysis. EUR/USD daily overview on August 2, 2022

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Forex Analysis:::2022-08-02T06:55:54

Indicator analysis. EUR/USD daily overview on August 2, 2022

Trend analysis (Fig. 1).

On Tuesday, moving up from 1.0260 (closing of yesterday's daily candlestick), the quote will try to hit the 61.8% retracement level of 1.0359 (red dotted line). If the price tests this mark, it may descend to the upper fractal at 1.0275 (red dotted line) and then go up.

 Indicator analysis. EUR/USD daily overview on August 2, 2022

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis - up

- Fibonacci levels - up

- volumes - up

- candlestick analysis - up

- trend analysis - up

- Bollinger bands - up

- weekly chart - up

Final thoughts:

Today, moving up from 1.0260 (closing of yesterday's daily candlestick), the quote will try to hit the 61.8% retracement level of 1.0359 (red dotted line). If the price tests this mark, it may descend to the upper fractal at 1.0275 (red dotted line) and then go up.

Alternative scenario: moving down from 1.0260 (closing of yesterday's daily candlestick), the pair will try to reach 1.0178 support (white bold line). If the quote tests this level, it may rise to the 50% retracement level of 1.0281 (red dotted line), test it, and extend growth.

Analyst InstaForex
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