Indicator analysis: Daily review of EUR/USD on October 9, 2023
October 9, 2023 8:29 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0611, the 21-period EMA (black thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – up;
Bollinger bands – down;
Weekly chart – up.
Today, the price may move downward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0611, the 21-period EMA (black thin line).
Alternatively, the price may move upward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0611, the 21-period EMA (black thin line). In the case of testing this level, a downward movement is possible with a target of 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 downward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0611, the 21-period EMA (black thin line).
Fig. 1 (daily chart).
Comprehensive analysis:
Today, the price may move downward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0519, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0611, the 21-period EMA (black thin line).
Alternatively, the price may move upward from the level of 1.0585 (closing of Friday’s daily candlestick) to 1.0611, the 21-period EMA (black thin line). In the case of testing this level, a downward movement is possible with a target of 1.0569, the 14.6% pullback level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: