FX.co ★ Indicator analysis. Daily review on EUR / USD for May 29, 2020

Trend analysis (Fig. 1).

Today, the upward trend may continue from the level of 1.1078 (closing of yesterday's candle) with the target of 1.1126, located at the upper border of the Bollinger line indicator (presented in a purple dashed line). From this level, the price may begin to move downwards with the first target of 1.1056 - a 14.6% retracement level (presented in a red dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move upwards with the target of 1.1126 located at the upper border of the Bollinger line indicator (presented in a purple dashed line). From this level, the price may begin to move downwards with the first target of 1.1056 - a 14.6% retracement level (presented in a red dashed line).

Another possible scenario is a downward trend from the historical resistance level of 1.1151 (presented in a blue dotted line).