FX.co ★ Indicator analysis: Daily review for the EUR/USD currency pair 14/10/2020

Trend analysis

Today, the market from the level of 1.1747 (closing of yesterday's daily candle) may continue to move down with the goal of 1.1723 with a pullback level of 50.0% (blue dotted line). In case of testing this line, further work down with the goal of rolling back the level of 61.8% (blue dotted line). From this level, you can work up.

Figure 1 (daily chart).

Complex Analysis:

• Indicator Analysis – down
• Fibonacci Levels – down
• Volumes – down
• Technical Analysis – down
• Trend Analysis – up
• Bollinger Bands – up
• Weekly Chart - down

General conclusion:

The price may continue to move down with the goal of 1.1723 with a pullback level of 50.0% (blue dotted line). In case of testing this line, further work down with the goal of rolling back the level of 61.8% (blue dotted line). From this level, you can work up.

Alternative scenario: When moving down and reaching the pullback level of 50.0% - 1.1723 (blue dotted line), the price may start moving up to the pullback level of 50.0% - 1.1813 (red dotted line).