FX.co ★ Indicator Analysis. Daily review for the EUR/ USD currency pair 03/12/21

Trend Analysis (Fig. 1).

Today, the market from the level of 1.1985 (the closing of yesterday's daily candle) is moving up, and will try to reach the pullback level of 50% at 1.2039 (the white dotted line). In the case of testing this line, it is possible to move up with the target of 1.2075 at the historical resistance level (blue dotted line).

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis – up

- Fibonacci Levels – up

- Volumes – up

- Candle Analysis – down

- Trend Analysis – up

- Bollinger Bands – up

- Weekly Chart – up

General Conclusion:

Today, the price from the level of 1.1985 (closing yesterday's daily candle) is moving up and will try to reach the pullback level of 50% at 1.2039 (white dotted line). In the case of testing this line, it is possible to move up with the target of 1.2075 at the historical resistance level (blue dotted line).

Alternative scenario: the price from the level of 1.1985 (closing yesterday's daily candle) will move down, and will try to reach the historical support level of 1.1954 (blue dotted line). In the case of testing this line, it is possible to continue moving downwards with the target of 1.1931 at the pullback level of 50.0% (blue dotted line).