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21.12.2022 09:50 AM
Indicator analysis: Daily review of EUR/USD on December 21, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0560, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0658 (daily candle from 12/20/2022). From this level, the price may continue to move up.

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Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0560, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0658 (daily candle from 12/20/2022). From this level, the price may continue to move up.

Alternatively, the price may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0566, the 13-period EMA (thin yellow line). From this level, the price may move up.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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