FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on May 3, 2021

Trend analysis (Fig. 1).

On Monday, from the level of 1.2018 (the closing of last Friday's daily candlestick), the market may continue to move down, with a target of 1.1968 - the 38.2% retracement level (red dotted line). If this level is tested, the price may start moving up, with a target of 1.2075 - the historical resistance 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 - up;
• Weekly chart - down.

General conclusion:

Today, from the level of 1.2018 (the closing of last Friday daily candlestick), the price is likely to continue moving down, with a target of 1.1968 - the 38.2% retracement level (red dotted line). If this level is tested, the price may start moving up, with a target of 1.2075 - the historical resistance level (blue dotted line).

Unlikely scenario: the price from the level of 1.2018 (the closing of last Friday daily candlestick) may start moving up, with a target of 1.2075 - the historical resistance level (blue dotted line).