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02.12.2022 10:05 AM
Indicator analysis: Daily review of EUR/USD on December 2, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0516 (closing of yesterday's daily candle) to the upper fractal at 1.0614 (yellow dotted line). When testing this level, a downward pullback is possible.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0516 (closing of yesterday's daily candle) to the upper fractal at 1.0614 (yellow dotted line). When testing this level, a downward pullback is possible.

Alternatively, the price may move upward from the level of 1.0516 (closing of yesterday's daily candle) to 1.0598, the historical resistance level (blue dotted line). Upon reaching this level, a downward pullback is possible to the upper fractal at 1.0533 (daily candle from 12/01/2022).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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