FX.co ★ Indicator analysis. Daily review on EUR / USD for October 6, 2020

The pair traded upward on Monday and almost tested 1.1813 - a 50.0% pullback level (red dotted line). Today, the price may move downward. According to the economic calendar, euro news is expected at 08:35 and 13:00 UTC, and dollar news at 12:00, 14:00, and 14:40 UTC.

Trend analysis (Fig. 1).

The market may roll back down from the level of 1.1787 (closing of yesterday's daily candlestick) with the target at 1.1690 - a 38.2% pullback level (blue dotted line). Upon testing this level, the price may move upward with the target at 1.1813 - a 50.0% pullback level (red dotted line).

Figure: 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today, the price may roll back down from the level of 1.1787 (closing of yesterday's daily candlestick) with the target at 1.1690 - a 38.2% pullback level (blue dotted line). Upon testing this level, the price may move upward with the target at 1.1813 - a 50.0% pullback level (red dotted line).

Another possible scenario: upon reaching the level of 1.1690 (blue dashed line), the price may continue to move downward with the target at the support level 1.1661 (black bold line).