Indicator analysis: Daily review of EUR/USD on November 3, 2023
November 3, 2023 8:23 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0620 (closing of yesterday’s daily candle) to 1.0682, the upper limit of the Bollinger Band indicator (black dotted line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0713 resistance level (white thick line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – down;
Weekly chart – up.
General conclusion: Today, the price may move upward from the level of 1.0620 (closing of yesterday’s daily candle) to 1.0682, the upper limit of the Bollinger Band indicator (black dotted line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0713 resistance level (white thick line).
Alternatively, the price may move upward from the level of 1.0620 (closing of yesterday’s daily candlestick) to 1.0680, the upper limit of the Bollinger Band indicator (black dotted line). In the case of testing this level, a downward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted 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 1.0620 (closing of yesterday’s daily candle) to 1.0682, the upper limit of the Bollinger Band indicator (black dotted line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0713 resistance level (white thick line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move upward from the level of 1.0620 (closing of yesterday’s daily candle) to 1.0682, the upper limit of the Bollinger Band indicator (black dotted line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0713 resistance level (white thick line).
Alternatively, the price may move upward from the level of 1.0620 (closing of yesterday’s daily candlestick) to 1.0680, the upper limit of the Bollinger Band indicator (black dotted line). In the case of testing this level, a downward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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