Indicator analysis: Daily review of EUR/USD on May 15, 2023
May 15, 2023 8:25 am
Trend analysis (Fig. 1).
The market may move downward from the level of 1.0847 (closing of Friday’s daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – up;
Candlestick analysis – down;
Trend analysis – down;
Bollinger bands – down;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.0847 (closing of Friday’s daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).
Alternatively, the price may move upward from the level of 1.0847 (closing of Friday’s daily candle) with the target of 1.0905, the 23.6% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.0930, the historical resistance level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The market may move downward from the level of 1.0847 (closing of Friday’s daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.0847 (closing of Friday’s daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).
Alternatively, the price may move upward from the level of 1.0847 (closing of Friday’s daily candle) with the target of 1.0905, the 23.6% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.0930, the historical resistance level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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