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FX.co ★ Indicator analysis: Daily review of EUR/USD on November 9, 2022

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Forex Analysis:::2022-11-09T08:15:12

Indicator analysis: Daily review of EUR/USD on November 9, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0072 (close of yesterday's daily candle) to 1.0040, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible with the target of 1.0093, the upper fractal (thick red line). Upon testing this level, the price may continue to move up. Indicator analysis: Daily review of EUR/USD on November 9, 2022

Fig. 1 (daily chart).

Comprehensive analysis:

  • indicator analysis - down;
  • Fibonacci levels - down;
  • volumes - down;
  • candlestick analysis - down;
  • trend analysis - up;
  • Bollinger bands - up;
  • weekly chart - up.

General conclusion:

Today the price may move downward from 1.0072 (close of yesterday's daily candle) to 1.0040, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible with the target of 1.0093, the upper fractal (thick red line). Upon testing this level, the price may continue to move up.

Alternatively, the price may move downward from 1.0072 (close of yesterday's daily candle) to 1.0007, the 23.6% retracement level (blue dotted line). When testing this level, an upward movement is possible with the target of 1.0093, the upper fractal (thick red line).

Analyst InstaForex
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