FX.co ★ Indicator analysis. Daily review on EUR / USD for August 17, 2020

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.1844 (closing of Friday's daily candle) with the target at the upper fractal 1.1917 (red dotted line). From this level, the upward trend may continue with the next target of 1.2103 - a 76.4% pullback level (blue dotted line).

Figure: 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today the price may move upwards with the target at the upper fractal 1.1917 (red dotted line). From this level, the downward trend may continue with the next target of 1.2103 - a 76.4% pullback level (blue dashed line).

Another possible scenario is upon reaching the upper fractal 1.1917 (red dashed line), the price may begin to move down with the target at 1.1808 - a 14.6% pullback level (red dashed line).