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Forex Analysis & Reviews: Indicator analysis of EUR/USD on August 11, 2022
time 11.08.2022 09:23 AM
time Relevance up to, 12.08.2022 08:34 AM

Trend analysis (Fig. 1).

On Tuesday, the price will attempt to fall from 1.0298 (closing of yesterday's daily candlestick) and test the 23.6% retracement level of 1.0270 (blue dotted line). When this line is reached, quotes could rise to the 61.8% retracement level of 1.0359 (blue dotted line). The pair may then rise to 1.0422 resistance (blue bold line).

This image is no longer relevant

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis - up

- Fibonacci levels - up

- volumes - up

- candlestick analysis - up

- trend analysis - up

- Bollinger bands - down

- weekly chart up

Conclusion:

On Tuesday, the price will attempt to fall from 1.0298 (closing of yesterday's daily candlestick) and test the 23.6% retracement level of 1.0270 (blue dotted line). When this line is reached, the quote could rise to the 61.8% retracement level of 1.0359 (blue dotted line). The pair may then rise to 1.0422 resistance (blue bold line).

Alternative scenario: the price will attempt to fall from 1.0298 (closing of yesterday's daily candlestick) and test the EMA 21 at 1.0229 (black thin line). When this line is approached, the quote could grow to the 61.8% retracement level of 1.0359 (blue dotted line). The pair may then increase to 1.0422 resistance (blue bold line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2022
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