FX.co ★ Indicator analysis. Daily review for the EUR/USD currency pair on 17/12/2020

Trend analysis (Figure 1).

Today, from the level of 1.2198 (the closing of yesterday's daily candle), the market can continue to move up with the target of 1.2274 which is a pullback level of 85.4% (yellow dotted line). After testing this level, continue to work upwards with the target of 1.2342 which is the upper limit of the Bollinger Line Indicator (black dotted line).

Figure 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, from the level of 1.2198 (the closing of yesterday's daily candle), the market can continue to move up with the target of 1.2274 which is a pullback level of 85.4% (yellow dotted line). After testing this level, continue to work up with the target of 1.2342 which is the upper limit of the Bollinger Line Indicator (black dotted line).

Alternative scenario: From the level of 1.2198 (the closing of yesterday's daily candle), the market may continue to move up with the target of 1.2274 which is a pullback level of 85.4% (yellow dotted line). After testing this level, it is possible to move downwards with a target of 1.2177 which is a pullback level of 14.6% (red dotted line).