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30.10.2020 09:55 AM
Indicator Analysis. Daily review for EUR/USD pair 10/30/20

Trend analysis (Fig. 1).

Today, the market will try to go up from the level of 1.1673 (closing of yesterday's daily candle) with the target of 1.1702 - the retracement level of 23.6% (blue dotted line). In case of testing this level, there will be a work up to the level of 1.1760 - the retracement level of 38.2% (blue dotted line).

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Figure: 1 (daily chart).

Comprehensive Analysis:

  • Indicator Analysis - up
  • Fibonacci Levels - up
  • Volumes - up
  • Candle Analysis - up
  • Trend Analysis - up
  • Bollinger Bands - up
  • Weekly Chart - up

General conclusion:

Today, the price will try to go up from the level of 1.1673 (closing of yesterday's daily candle) with the goal of 1.1702 - a pullback level of 23.6% (blue dotted line). If this level is tested, there will be a work up to the level of 1.1760 - a pullback level of 38.2% (blue dotted line).

Alternative scenario: from the level of 1.1673 (closing of yesterday's daily candle), it may continue to go down with the goal of 1.1651 - a pullback level of 85.4% (red dotted line). If this level is tested, there will be a work down to the level of 1.1612 - the lower fractal (candle from 09/25/2020).

Stefan Doll,
Analytical expert of InstaForex
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