FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on 12/24/20

Trend analysis (Fig. 1)

Today, the market from the level of 1.2186 (closing of yesterday's daily candle) will try to continue moving upwards to the target of 1.2234 – the historical resistance level (blue dotted line). After testing this level, the upward movement may continue to the next target of 1.2274 – the pullback level of 85.4% (yellow dashed 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 market from the level of 1.2186 (closing of yesterday's daily candle) will likely continue rising to the target of 1.2234 – the historical resistance level (blue dotted line). Upon testing this level, the upward movement may continue to the next target of 1.2274 – the pullback level of 85.4% (yellow dashed line).

An alternative scenario: the market from the level of 1.2198 (closing of yesterday's daily candle) may continue to move upwards and reach the target of 1.2234 – the historical resistance level (blue dotted line). After testing this level, a downward pullback is possible towards the target of 1.2177 – a pullback level of 14.6% (red dotted line).