Main Quotes Calendar Forum
flag

FX.co ★ Indicator analysis of EUR/USD on May 1

parent
Forex Analysis:::2023-05-01T07:12:46

Indicator analysis of EUR/USD on May 1

Trend analysis (fig. 1).

Today, the pair may decrease to 1.0958, the Fibonacci retracement level of 23.6% (yellow dotted line) from the level of 1.1018, the closing of Friday's daily candlestick. When testing this level, the price could fall to the support level of 1.0930 (blue dotted line).

 Indicator analysis of EUR/USD on May 1

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis– up;

- Fibonacci retracement levels – down;

- trading volumes – down;

- candlestick analysis – down;

- trend analysis – up;

- Bollinger bands – down;

- weekly chart - down.

Conclusion:

Today, the pair may decrease to 1.0958, the Fibonacci retracement level of 23.6% (yellow dotted line) from the level of 1.1018, the closing of Friday's daily candlestick. When testing this level, the price could fall to the support level of 1.0930 (blue dotted line).

Alternatively, the price could decline to the target level of 1.0958, the Fibonacci retracement level of 23.6% (yellow dotted line) from 1.1018, the closing of Friday's daily candlestick. When testing this level, the pair is likely to rise to the target level of 1.1032, the Fibonacci retracement level of 78.4% (blue dotted line).

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...