FX.co ★ Indicator analysis. Daily review on EUR / USD for August 5, 2020

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.1805 (closing of yesterday's daily candle) with the target at the upper fractal 1.1910 (red dotted line). From this level, the upward trend may continue with the next target of 1.2101 - a 76.4% pullback level (blue 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 chart - down.

General conclusion:

Today the price may continue to move upward with the target at the upper fractal 1.1910 (red dotted line). From this level, the upward trend may continue with the next target of 1.2101 - a 76.4% pullback level (blue dotted line).

Another possible scenario is upon reaching the upper fractal 1.1910 (red dotted line), the price may begin to move down with the target at 1.1802 - a 14.6% pullback level (red dotted line).