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24.01.2023 09:50 AM
Indicator analysis: Daily review of EUR/USD on January 24, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0870 (closing of yesterday's daily candle) to the upper fractal at 1.0926 (yellow dotted line). When testing this level, continued upward movement is possible to 1.0989, the upper border of the Bollinger line indicator (black dotted line). Upon testing this level, the price may move down.

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Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis - 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 1.0870 (closing of yesterday's daily candle) to the upper fractal at 1.0926 (yellow dotted line). When testing this level, continued upward movement is possible to 1.0989, the upper border of the Bollinger line indicator (black dotted line). Upon testing this level, the price may move down.

Alternatively, the price may move upward from the level of 1.0870 (closing of yesterday's daily candle) to the upper fractal at 1.0926 (yellow dotted line). When testing this level, a downward movement is possible to 1.0861, the 14.6% retracement level (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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