Indicator analysis: Daily review of EUR/USD on August 25, 2023
August 25, 2023 9:24 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0809 (closing of yesterday’s daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, the price may rise to the target level at 1.0836, the historical resistance level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Candlestick analysis – down;
Trend analysis – down;
Bollinger bands – bottom;
Weekly chart – up.
General conclusion:
Today, the price may move downward from the level of 1.0809 (closing of yesterday’s daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, the price may rise to the target level at 1.0836, the historical resistance level (blue dotted line).
Alternatively, the price may move downward from the level of 1.0809 (closing of yesterday’s daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, a continued downward movement is possible to the 1.0737 support level (thick red line).
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 1.0809 (closing of yesterday’s daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, the price may rise to the target level at 1.0836, the historical resistance level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.0809 (closing of yesterday’s daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, the price may rise to the target level at 1.0836, the historical resistance level (blue dotted line).
Alternatively, the price may move downward from the level of 1.0809 (closing of yesterday’s daily candle) to 1.0769, the historical resistance level (blue dotted line). In the case of testing this level, a continued downward movement is possible to the 1.0737 support level (thick red line).
The material has been provided by InstaForex Company – www.instaforex.com
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