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FX.co ★ Indicator analysis: Daily review of EUR/USD on August 15, 2023

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Forex Analysis:::2023-08-15T07:35:06

Indicator analysis: Daily review of EUR/USD on August 15, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0904 (closing of yesterday's daily candle) to test 1.0965, the 14.6% pullback level (blue dotted line). Upon testing this level, a continued upward movement is possible to 1.0997, the 23.6% pullback level (blue dotted line).

Indicator analysis: Daily review of EUR/USD on August 15, 2023

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis - up;
  • Volumes - up;
  • Candlestick analysis - up;
  • Trend analysis - up;
  • Bollinger bands - down;
  • Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.0904 (closing of yesterday's daily candle) to test 1.0965, the 14.6% pullback level (blue dotted line). Upon testing this level, a continued upward movement is possible to 1.0997, the 23.6% pullback level (blue dotted line).

Alternatively, the price may move downward from the level of 1.0904 (closing of yesterday's daily candle) to test 1.0879, the 61.8% pullback level (red dotted line). From here, an upward movement is possible with the target at 1.0965, the 14.6% pullback level (blue dotted line).

Analyst InstaForex
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