Indicator analysis: Daily review of EUR/USD on August 17, 2023
August 17, 2023 8:28 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0878 (closing of yesterday’s daily candle) to 1.0836, the historical support level (blue dotted line). From this level, an upward pullback is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – down;
Bollinger bands – down;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.0878 (closing of yesterday’s daily candle) to 1.0836, the historical support level (blue dotted line). From this level, an upward pullback is possible.
Alternatively, the price may move downward from the level of 1.0878 (closing of yesterday’s daily candle) to 1.0836, the historical support level (blue dotted line). From this level, a continued downward movement is possible to 1.0815, the lower limit of the Bollinger Band indicator, where an upward pullback may occur.
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0878 (closing of yesterday’s daily candle) to 1.0836, the historical support level (blue dotted line). From this level, an upward pullback is possible.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.0878 (closing of yesterday’s daily candle) to 1.0836, the historical support level (blue dotted line). From this level, an upward pullback is possible.
Alternatively, the price may move downward from the level of 1.0878 (closing of yesterday’s daily candle) to 1.0836, the historical support level (blue dotted line). From this level, a continued downward movement is possible to 1.0815, the lower limit of the Bollinger Band indicator, where an upward pullback may occur.
The material has been provided by InstaForex Company – www.instaforex.com
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