Indicator analysis: Daily review of EUR/USD on October 3, 2023
October 3, 2023 9:25 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0476 (closing of yesterday’s daily candle) to test 1.0435, the lower border of the Bollinger Band indicator (black dotted line). Upon testing this level, an upward movement is possible with a target of 1.0515, the 5-period EMA (red thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – 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 1.0476 (closing of yesterday’s daily candle) to test 1.0435, the lower border of the Bollinger Band indicator (black dotted line). Upon testing this level, an upward movement is possible with a target of 1.0515, the 5-period EMA (red thin line).
Alternatively, the price may move downward from the level of 1.0476 (closing of yesterday’s daily candle) to test 1.0435, the lower border of the Bollinger Band indicator (black dotted line). Upon testing this level, an upward movement is possible with a target of 1.0543, the 8-period EMA (blue thin line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0476 (closing of yesterday’s daily candle) to test 1.0435, the lower border of the Bollinger Band indicator (black dotted line). Upon testing this level, an upward movement is possible with a target of 1.0515, the 5-period EMA (red thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move downward from the level of 1.0476 (closing of yesterday’s daily candle) to test 1.0435, the lower border of the Bollinger Band indicator (black dotted line). Upon testing this level, an upward movement is possible with a target of 1.0515, the 5-period EMA (red thin line).
Alternatively, the price may move downward from the level of 1.0476 (closing of yesterday’s daily candle) to test 1.0435, the lower border of the Bollinger Band indicator (black dotted line). Upon testing this level, an upward movement is possible with a target of 1.0543, the 8-period EMA (blue thin line).
The material has been provided by InstaForex Company – www.instaforex.com
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