Indicator Analysis. Daily review for EUR/USD 10/23/20
October 23, 2020 8:24 am
Trend Analysis (Fig. 1).
Today, the market may continue to move downward from the level of 1.1820 (closing of yesterday’s daily candle) with the target at 1.1780 – the retracement level of 38.2% (blue dotted line). In case of testing this level, there will be a work going down to the level of 1.1748 – the 50% retracement level (blue dashed line).
Figure: 1 (daily chart).
Comprehensive Analysis:
Indicator Analysis – down
Fibonacci Levels – down
Volumes – down
Candlestick Analysis – down
Trend Analysis – up
Bollinger Lines – down
Weekly Chart – up
General conclusion:
Today, the price from the level of 1.1820 (closing of yesterday’s daily candle) may continue to move downward with the target of 1.1780 – the retracement level of 38.2% (blue dashed line). In case of testing this level, there will be a work going down to the level of 1.1748 – the 50% retracement level (blue dashed line). Then top work is possible.
Alternative scenario: from the level of 1.1820 (closing of yesterday’s daily candle) may continue to move down with the target at 1.1780 – a retracement level of 38.2% (blue dashed line). In case of testing this level, there will be a work going up to the level of 1.1860 – the retracement level of 61.8% (red dashed line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend Analysis (Fig. 1).
Today, the market may continue to move downward from the level of 1.1820 (closing of yesterday’s daily candle) with the target at 1.1780 – the retracement level of 38.2% (blue dotted line). In case of testing this level, there will be a work going down to the level of 1.1748 – the 50% retracement level (blue dashed line).
Figure: 1 (daily chart).
Comprehensive Analysis:
General conclusion:
Today, the price from the level of 1.1820 (closing of yesterday’s daily candle) may continue to move downward with the target of 1.1780 – the retracement level of 38.2% (blue dashed line). In case of testing this level, there will be a work going down to the level of 1.1748 – the 50% retracement level (blue dashed line). Then top work is possible.
Alternative scenario: from the level of 1.1820 (closing of yesterday’s daily candle) may continue to move down with the target at 1.1780 – a retracement level of 38.2% (blue dashed line). In case of testing this level, there will be a work going up to the level of 1.1860 – the retracement level of 61.8% (red dashed line).
The material has been provided by InstaForex Company – www.instaforex.com
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