Indicator analysis: Daily review of EUR/USD on May 25, 2023
May 25, 2023 8:23 am
Trend analysis (Fig. 1).
The market may move downward from the level of 1.0748 (closing of yesterday’s daily candle) to 1.0696, the historical support level (blue dotted line). From this level, an upward movement is possible with the target of 1.0737, the 61.8% pullback level (yellow dotted line).
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 1.0748 (closing of yesterday’s daily candle) to 1.0696, the historical support level (blue dotted line). From this level, an upward movement is possible with the target of 1.0737, the 61.8% pullback level (yellow dotted line).
Alternatively, the price may move downward from the level of 1.0748 (closing of yesterday’s daily candle) to 1.0653, the lower border of the Bollinger band indicator (black dotted line). From this level, an upward movement is possible to 1.0732, the lower fractal (red 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 1.0748 (closing of yesterday’s daily candle) to 1.0696, the historical support level (blue dotted line). From this level, an upward movement is possible with the target of 1.0737, the 61.8% pullback level (yellow dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.0748 (closing of yesterday’s daily candle) to 1.0696, the historical support level (blue dotted line). From this level, an upward movement is possible with the target of 1.0737, the 61.8% pullback level (yellow dotted line).
Alternatively, the price may move downward from the level of 1.0748 (closing of yesterday’s daily candle) to 1.0653, the lower border of the Bollinger band indicator (black dotted line). From this level, an upward movement is possible to 1.0732, the lower fractal (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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