Indicator analysis: Daily review of EUR/USD on September 21, 2023
September 21, 2023 8:23 am
Trend analysis (Fig. 1).
The EUR/USD currency pair may move downward from the level of 1.0659 (closing of yesterday’s daily candle) with the target of reaching the 1.0597 support level (red thick line). From this level, an upward movement is possible with a target of 1.0785, the 14.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – up;
Fibonacci levels – up;
Volumes – down;
Candlestick analysis – down;
Trend analysis – up;
Bollinger bands – down;
Weekly chart – up.
General conclusion: Today, the price may move downward from the level of 1.0659 (closing of yesterday’s daily candle) with the target of reaching the 1.0597 support level (red thick line). From this level, an upward movement is possible with a target of 1.0785, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.0659 (closing of yesterday’s daily candle) to reach the lower fractal at 1.0617 (blue dotted line). From this level, the price may move upward with a target of 1.0785, 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 1.0659 (closing of yesterday’s daily candle) with the target of reaching the 1.0597 support level (red thick line). From this level, an upward movement is possible with a target of 1.0785, the 14.6% pullback level (blue dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion: Today, the price may move downward from the level of 1.0659 (closing of yesterday’s daily candle) with the target of reaching the 1.0597 support level (red thick line). From this level, an upward movement is possible with a target of 1.0785, the 14.6% pullback level (blue dotted line).
Alternatively, the price may move downward from the level of 1.0659 (closing of yesterday’s daily candle) to reach the lower fractal at 1.0617 (blue dotted line). From this level, the price may move upward with a target of 1.0785, the 14.6% pullback level (blue dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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