Indicator analysis of EUR/USD on May 1

Trend analysis (fig. 1).

Today, the pair may decrease to 1.0958, the Fibonacci retracement level of 23.6% (yellow dotted line) from the level of 1.1018, the closing of Friday’s daily candlestick. When testing this level, the price could fall to the support level of 1.0930 (blue dotted line).

Fig. 1 (daily chart).

Complex analysis:

– indicator analysis– up;

– Fibonacci retracement levels – down;

– trading volumes – down;

– candlestick analysis – down;

– trend analysis – up;

– Bollinger bands – down;

– weekly chart – down.

Conclusion:

Today, the pair may decrease to 1.0958, the Fibonacci retracement level of 23.6% (yellow dotted line) from the level of 1.1018, the closing of Friday’s daily candlestick. When testing this level, the price could fall to the support level of 1.0930 (blue dotted line).

Alternatively, the price could decline to the target level of 1.0958, the Fibonacci retracement level of 23.6% (yellow dotted line) from 1.1018, the closing of Friday’s daily candlestick. When testing this level, the pair is likely to rise to the target level of 1.1032, the Fibonacci retracement level of 78.4% (blue dotted line).

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