Indicator analysis: Daily review of EUR/USD on October 10, 2023
October 10, 2023 8:25 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0566 (closing of yesterday’s daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a continued upward movement is possible with a target of 1.0643, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis :
Indicator analysis – up;
Volumes – 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 1.0566 (closing of yesterday’s daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a continued upward movement is possible with a target of 1.0643, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.0566 (closing of yesterday’s daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a downward movement is possible with a target of 1.0569, the 14.6% pullback level (red 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 1.0566 (closing of yesterday’s daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a continued upward movement is possible with a target of 1.0643, the 23.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis :
General conclusion: Today, the price may move upward from the level of 1.0566 (closing of yesterday’s daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a continued upward movement is possible with a target of 1.0643, the 23.6% pullback level (red dotted line).
Alternatively, the price may move upward from the level of 1.0566 (closing of yesterday’s daily candle) to test 1.0603, the 21-period EMA (thin black line). Upon testing this level, a downward movement is possible with a target of 1.0569, the 14.6% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: