Indicator analysis: Daily review of EUR/USD on July 24, 2023
July 24, 2023 8:24 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.1125 (closing of Friday’s daily candle) with the target at 1.1171, the 23.6% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible, with the target of 1.1210, the 14.6% pullback level (red dotted line).
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 1.1125 (closing of Friday’s daily candle) with the target at 1.1171, the 23.6% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible, with the target of 1.1210, the 14.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.1125 (closing of Friday’s daily candle) with the target at 1.1171, the 23.6% pullback level (red dotted line). Upon testing this level, a downward movement is possible with the target of 1.1139, the 8-day EMA (thin blue line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.1125 (closing of Friday’s daily candle) with the target at 1.1171, the 23.6% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible, with the target of 1.1210, the 14.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move upward from the level of 1.1125 (closing of Friday’s daily candle) with the target at 1.1171, the 23.6% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible, with the target of 1.1210, the 14.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.1125 (closing of Friday’s daily candle) with the target at 1.1171, the 23.6% pullback level (red dotted line). Upon testing this level, a downward movement is possible with the target of 1.1139, the 8-day EMA (thin blue line).
The material has been provided by InstaForex Company – www.instaforex.com
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