FX.co ★ Indicator Analysis. Daily review for the EUR/USD currency pair 01/15/21

Trend Analysis (Figure 1).

Today, the market will try to reach the retracement level of 38.2% at 1.2063 (red dotted line) from the level of 1.2153 (closing of yesterday's daily candle). After reaching this level, the price can start going up with a target of 1.2176 at the resistance level (blue bold line). In case of breaking at this level, it is possible to continue going up with the target of 1.2356 at the upper limit of the Bollinger line indicator (black dotted line).

Figure 1 (daily chart).

Comprehensive Analysis:

• Indicator Analysis - down

• Fibonacci Levels - down

• Volumes - down

• Technical Analysis - down

• Trend Analysis - down

• Bollinger Bands - down

• Weekly Chart - down

General Conclusion:

Today, the price will try to reach the retracement level of 38.2% at 1.2063 (red dotted line) from the level of 1.2153 (closing of yesterday's daily candle) and then start going up with the target of 1.2176 resistance level (blue bold line) ...

Alternative scenario: the price will go down, testing the lower fractal at 1.2111 (daily candle from 01/14/2021) and then, it will go up with the target of 1.2176 at the resistance level (blue bold line).