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06.07.202008:09 Forex Analysis & Reviews: Indicator analysis. Daily review on EUR / USD for July 6, 2020

Trend analysis (Fig. 1).

Today, the upward trend may continue from the level of 1.1250 (closing of the Friday afternoon candle) with the target at the resistance line 1.1335 (white bold line). From this level, the price may continue to move upward with the target at the upper fractal 1.1423 (red dashed line).

Exchange Rates 06.07.2020 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - neutral;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move up with the target at the resistance line 1.1335 (white bold line). From this level, the upward trend may continue with the next target towards the upper fractal 1.1423 (red dashed line).

Another possible scenario is a downward trend from the level of 1.1294 (blue dashed line) with the target of 1.1123 - a 38.2% retracement level (red dashed line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2021
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