FX.co ★ Indicator analysis: Daily review on EUR/USD on February 6, 2020

Trend analysis (Fig. 1).

A downward movement is possible today with the target of 1.0967, the support line for the downward channel presented in a red bold line. Upon reaching this level, it is possible to work upward with the target of 1.0986, the retracement level of 14.6% presented in a blue dashed line.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly schedule - down.

General conclusion:

A continuation of the downward movement is expected today with the target of 1.0967, the support line for the downward channel presented in a red bold line.

An unlikely but possible scenario is from the support line of the downward channel equivalent 1.0967, presented in a red bold line, the price will go down to the target level of 161.8% equivalent to 1.0928, presented in a red dashed line.