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14.10.2020 09:04 AM
Indicator analysis: Daily review for the EUR/USD currency pair 14/10/2020

Trend analysis

Today, the market from the level of 1.1747 (closing of yesterday's daily candle) may continue to move down with the goal of 1.1723 with a pullback level of 50.0% (blue dotted line). In case of testing this line, further work down with the goal of rolling back the level of 61.8% (blue dotted line). From this level, you can work up.

This image is no longer relevant

Figure 1 (daily chart).

Complex Analysis:

  • Indicator Analysis – down
  • Fibonacci Levels – down
  • Volumes – down
  • Technical Analysis – down
  • Trend Analysis – up
  • Bollinger Bands – up
  • Weekly Chart - down

General conclusion:

The price may continue to move down with the goal of 1.1723 with a pullback level of 50.0% (blue dotted line). In case of testing this line, further work down with the goal of rolling back the level of 61.8% (blue dotted line). From this level, you can work up.

Alternative scenario: When moving down and reaching the pullback level of 50.0% - 1.1723 (blue dotted line), the price may start moving up to the pullback level of 50.0% - 1.1813 (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
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