Indicator analysis: Daily review of EUR/USD on June 8, 2023

Trend analysis (Fig. 1).

The market may move upward from 1.0697 (closing of yesterday’s daily candle) to 1.0743, the 23.6% pullback level (red dotted line). From this level, the price may continue to rise with the target of 1.0769, the 21-day EMA (thin black line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis – up;
• Fibonacci levels – up;
• Volumes – up;
• Candlestick analysis – up;
• Trend analysis – down;
• Bollinger bands – down;
• Weekly chart – up.

General conclusion:

Today, the market may move upward from 1.0697 (closing of yesterday’s daily candle) to 1.0743, the 23.6% pullback level (red dotted line). From this level, the price may continue to rise with the target of 1.0769, the 21-day EMA (thin black line).

Alternatively, the price may move upward from the level of 1.0697 (closing of yesterday’s daily candle) to 1.0743, the 23.6% pullback level (red dotted line). From this level, the price may move down with the target at the 1.0723 support level (thick red line).

The material has been provided by InstaForex Company – www.instaforex.com