Indicator analysis: Daily review of EUR/USD on October 19, 2023
October 19, 2023 8:23 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move upward from the level of 1.0535 (closing of yesterday’s daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Volumes – up;
Candlestick analysis – up;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – up.
General conclusion: Today, the price may move upward from the level of 1.0535 (closing of yesterday’s daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.0535 (closing of yesterday’s daily candle) to 1.0579, the 21-period EMA (thin black line). In the case of testing this level, a downward movement is possible with a target at 1.0569, the 14.6% 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 1.0535 (closing of yesterday’s daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move upward from the level of 1.0535 (closing of yesterday’s daily candle) to 1.0569, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target at 1.0643, the 23.6% pullback level (blue dotted line).
Alternatively, the price may move upward from the level of 1.0535 (closing of yesterday’s daily candle) to 1.0579, the 21-period EMA (thin black line). In the case of testing this level, a downward movement is possible with a target at 1.0569, the 14.6% pullback level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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