Indicator analysis: Daily review of EUR/USD on October 11, 2023
October 11, 2023 9:22 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0604 (closing of yesterday’s daily candle) to the 1.0625 resistance level (red thick line). Upon reaching this level, a downward movement is possible with a target of 1.0579, the 13-period EMA (yellow thin 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 – up.
General conclusion: Today, the price may move upward from the level of 1.0604 (closing of yesterday’s daily candle) to the 1.0625 resistance level (red thick line). Upon reaching this level, a downward movement is possible with a target of 1.0579, the 13-period EMA (yellow thin line).
Alternatively, the price may move downward from the level of 1.0604 (closing of yesterday’s daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target at 1.0643, the 23.6% 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 1.0604 (closing of yesterday’s daily candle) to the 1.0625 resistance level (red thick line). Upon reaching this level, a downward movement is possible with a target of 1.0579, the 13-period EMA (yellow thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move upward from the level of 1.0604 (closing of yesterday’s daily candle) to the 1.0625 resistance level (red thick line). Upon reaching this level, a downward movement is possible with a target of 1.0579, the 13-period EMA (yellow thin line).
Alternatively, the price may move downward from the level of 1.0604 (closing of yesterday’s daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target at 1.0643, the 23.6% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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