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20.09.202109:27 Forex Analysis & Reviews: Indicator analysis. Daily review of EUR/USD for September 20, 2021

Trend analysis (Fig. 1).

The EUR/USD pair may move downward from the level of 1.1723 (closing of Friday's daily candle) with the target at 1.1706 - the historical support level (blue dotted line). When testing this level, the price may roll back up with the target at 1.1750 - the 14.6% retracement level (yellow dashed line). Upon reaching this level, the upward movement may continue with the target of 1.1767 - the 23.6% retracement level (yellow dashed line).

Exchange Rates 20.09.2021 analysis

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

Today, the price may move downward from the level of 1.1723 (closing of Friday's daily candle) with the target at 1.1706 - the historical support level (blue dotted line). When testing this level, the price may roll back up with the target at 1.1750 - the 14.6% retracement level (yellow dashed line). Upon reaching this level, the upward movement may continue with the target at 1.1767 - the 23.6% retracement level (yellow dashed line).

Unlikely scenario: the price may move downward from the level of 1.1723 (closing of Friday's daily candle) with the target at 1.1706 - the historical support level (blue dotted line). When testing this level, the price may continue to move down with the target at 1.1676 - the lower border of the Bollinger line indicator (black dashed line), where an upward pullback may form.

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Stefan Doll,
Chuyên gia phân tích của InstaForex
© 2007-2021
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