Indicator analysis: Daily review of EUR/USD on April 12, 2023
April 12, 2023 9:22 am
Trend analysis (Fig. 1).
The market may move upward from the level of 1.0911 (closing of yesterday’s daily candle) to 1.0930, the historical support level (blue dotted line). Upon reaching this level, a continued upward movement is possible with the target at 1.0972, the upper fractal (yellow dotted line). From this level, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Volumes – up;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – up.
General conclusion:
Today, the price may move upward from the level of 1.0911 (closing of yesterday’s daily candle) to 1.0930, the historical support level (blue dotted line). Upon reaching this level, a continued upward movement is possible with the target at 1.0972, the upper fractal (yellow dotted line). From this level, the price may move down.
Alternatively, the price may move upward from the level of 1.0911 (closing of yesterday’s daily candle) to 1.0957, the 85.4% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with the target at 1.0930, the historical support level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The market may move upward from the level of 1.0911 (closing of yesterday’s daily candle) to 1.0930, the historical support level (blue dotted line). Upon reaching this level, a continued upward movement is possible with the target at 1.0972, the upper fractal (yellow dotted line). From this level, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.0911 (closing of yesterday’s daily candle) to 1.0930, the historical support level (blue dotted line). Upon reaching this level, a continued upward movement is possible with the target at 1.0972, the upper fractal (yellow dotted line). From this level, the price may move down.
Alternatively, the price may move upward from the level of 1.0911 (closing of yesterday’s daily candle) to 1.0957, the 85.4% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with the target at 1.0930, the historical support level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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