FX.co ★ Indicator Analysis. Daily review for the EUR/USD currency pair 01/11/21

Trend Analysis (Figure 1).

Today, the market will go down from the level of 1.2217 (closing of Friday's daily candle) and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may continue to go down with a target of 1.2063 at the pullback level of 38.2% (red dotted line).

Figure 1 (daily chart).

Comprehensive Analysis:

• Indicator Analysis - down

• Fibonacci Levels - down

• Volumes - down

• Technical Analysis - down

• Trend Analysis - up

• Bollinger Bands - down

• Weekly Chart - down

General Conclusion:

Today, the market will go down from the level of 1.2217 (closing of Friday's daily candle) and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may continue to go down with a target of 1.2063 at the pullback level of 38.2% (red dotted line).

Alternative scenario: from the level of 1.2217 (closing of Friday's daily candle), it will go down and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may start going up with a target of 1.2234 at the historical resistance level (blue dotted line).