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01.07.202112:02 Forex Analysis & Reviews: Indicator analysis. Daily review of the EUR/USD pair for July 1, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1856 (closing of yesterday's daily candlestick) will try to start moving upwards in order to test the retracement level of 14.6% - 1.1908 (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.1946 - the 23.6% retracement level (blue dashed line). And then, from this line, it is likely to move upward with the target at 1.1971 - the resistance line (white thick line).

Exchange Rates 01.07.2021 analysis

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the market from the level of 1.1856 (closing of yesterday's daily candlestick) will try to start moving upwards in order to test the retracement level of 14.6% - 1.1908 (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.1946 - the 23.6% retracement level (blue dashed line). And then, from this line, it is likely to move upward with the target at 1.1971 - the resistance line (white thick line).

Alternative scenario: from the level of 1.1856 (closing of yesterday's daily candlestick), the price may start moving down with the target at 1.1836 - the 76.4% retracement level (red dotted line). Upon reaching this level, it may start moving upward with the target at 1.1908 - the 14.6% retracement level (blue 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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