FX.co ★ Indicator analysis. Daily review on the EUR/USD currency pair for November 20, 2020

Trend analysis (Fig. 1).

Today, from the level - 1.1874 (closing of yesterday's daily candlestick), the market will try to continue moving upward with the goal of 1.1894 - an 85.4% pullback level (blue dotted line). If this level is tested, work upward to the level of 1.1920 – the upper fractal (red dotted line). If this succeeds, further work upward to 1.1948 historical resistance level (blue dotted line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - up
• Fibonacci levels - up
• Volumes - up
• Candlestick analysis - up
• Trend analysis - up
• Bollinger bands - up
• Weekly chart - up

General conclusion:

Today, from the level of - 1.1874 (closing of yesterday's daily candlestick), the price will try to continue moving upward with the goal of 1.1894 - an 85.4% pullback level (blue dotted line). If this level is tested, work upward to the level of 1.1920 – the upper fractal (red dotted line). If this succeeds, further work upward to 1.1948 historical resistance level (blue dotted line).

Alternative scenario: when moving upward and testing the pullback level of 85.4% - 1.1894 (blue dotted line), the pair may start moving down with the target of 1.1844 – a 23.6% pullback level (red dotted line).