FX.co ★ Indicator analysis. Daily review of the EUR/USD currency pair for April 5, 2021

Trend analysis (Fig. 1).

Today, from the level of 1.1761 (the closing of last Friday's daily candlestick), the market may move downwards and test the 85.4% retracement level - 1.1711 (red dotted line). If this level is tested, the price may start moving up to the target of 1.1745 – the 14.6% retracement level (blue dotted line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis – down;
• Fibonacci levels – down;
• Volumes – down;
• Candlestick analysis – down;
• Trend analysis – down;
• Bollinger bands – down;
• Weekly chart – down.

General output:

Today, from the level of 1.1761 (the closing of last Friday's daily candlestick), the price may move down and test the 85.4% retracement level - 1.1711 (red dotted line). If this level is tested, the price may start moving up to the target of 1.1745 – the 14.6% retracement level (blue dotted line).

An unlikely scenario: from the level of 1.1761 (the closing of last Friday's daily candlestick), the pair may move up and the 38.2% retracement level - 1.1813 (blue dotted line) can be tested. If this level is tested, the price may continue to move up to the target of 1.1846 – the 50.0% retracement level (blue dotted line).