FX.co ★ Indicator analysis: Daily review on EUR / USD for January 20, 2020

Trend analysis (Fig. 1).

In order to continue its upward movement for this day, the price must overcome the resistance line 1.1103, presented in a white bold line. Only in this case can the market continue to move upward with the target 1.1146, the retracement level of 38.2% presented in a blue dashed line. Upon reaching this line, the next goal will be at 1.1164, the pullback level of 50.0% presented in a blue dashed line.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

An upward trend is possible today.

An unlikely but quite possible scenario is from the lower fractal 1.1087, presented in a blue dashed line, the price goes down to a pullback level of 76.4% equivalent to 1.1043 presented in a red dashed line.