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10.07.2020 08:17 AM
Indicator analysis. Daily review on EUR / USD for July 10, 2020

Trend analysis (Fig. 1).

Today, the downward trend may continue from the level of 1.1287 (closing of yesterday's candle), with a target of 1.1247 - a 61.8% pullback level (blue dotted line). Upon reaching this level, the downward trend may continue with the next target of 1.1217 - a 76.4% pullback level (blue dashed line).

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - down;

- weekly schedule - down.

General conclusion:

Today, the price may continue to move downward with a target of 1.1247 - a 61.8% pullback level (blue dashed line). Upon reaching this level, the downward trend may continue with the next target of 1.1217 - a 76.4% retracement level (blue dashed line).

Another possible scenario is an upward pullback from 1.1247 - a 61.6% pullback level (blue dashed line) with a target at the resistance line 1.1329 (white bold line).

Stefan Doll,
Analytical expert of InstaForex
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