Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0565 (closing of yesterday's daily candle) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0569, the 14.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis – down;
- Fibonacci levels – down;
- Volumes – down;
- Candlestick analysis – down;
- Trend analysis – up;
- Bollinger bands – down;
- Weekly chart – down.
General conclusion: Today, the price may move downward from the level of 1.0565 (closing of yesterday's daily candle) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target at 1.0569, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.0565 (closing of yesterday's daily candle) to the lower fractal at 1.0523 (daily candle from 10/18/2023). In the case of testing this level, an upward movement is possible with a target at 1.0615, the historical resistance level (blue dotted line).
