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11.06.2021 10:01 AM
Indicator analysis. Daily review for the EUR/USD pair on June 11, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2172 (closing of yesterday's daily candlestick) will move upwards and try to reach the historical resistance level - 1.2212 (blue dotted line). After testing this level, it is possible to continue moving upward with the target at 1.2266 - the upper fractal (red dotted line).

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Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - up;
  • Fibonacci levels - up;
  • Volumes - up;
  • Candlestick analysis - up;
  • Trend analysis - up;
  • Bollinger lines - up;
  • Weekly chart - up.

General conclusion:

Today, the price from the level of 1.2172 (closing of yesterday's daily candlestick) will move upwards and try to reach the historical resistance level - 1.2212 (blue dotted line). After testing this level, it is possible to continue moving upward with the target at 1.2266 - the upper fractal (red dotted line).

Alternative scenario: the price from the level of 1.2172 (closing of yesterday's daily candlestick) will move upwards and try to reach the historical resistance level - 1.2212 (blue dotted line). After testing this level, it is possible to move downwards with the target at 1.2184 - the 14.6% retracement level (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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