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FX.co ★ Indicator analysis: Daily review of EUR/USD on January 19, 2023

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Forex Analysis:::2023-01-19T08:36:55

Indicator analysis: Daily review of EUR/USD on January 19, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0793 (closing of yesterday's daily candle) to 1.0738, the 38.2% retracement level (red dotted line). From this level, an upward pullback is possible to 1.0795, the 76.4% retracement level (yellow dotted line).

Indicator analysis: Daily review of EUR/USD on January 19, 2023

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 - down.

General conclusion:

Today, the price may move downward from the level of 1.0793 (closing of yesterday's daily candle) to 1.0738, the 38.2% retracement level (red dotted line). From this level, an upward pullback is possible to 1.0795, the 76.4% retracement level (yellow dotted line).

Alternatively, the price may move downward from the level of 1.0793 (closing of yesterday's daily candle) to 1.0755, the 13-period EMA (thin yellow line). From this level, an upward pullback is possible to test 1.0861, the historical resistance level (blue dotted line).

Analyst InstaForex
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