FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on May 10, 2021

Trend analysis (Fig. 1).

On Monday, the market from the level of 1.2165 (closing of last Friday's daily candlestick) may start moving down, with the target at 1.2107 - the 14.6% retracement level (red dotted line). Once this level is tested, the price may continue to move upward, with the target at 1.2166 - the price level of 161.8% (blue dashed line). And if so, the upward movement is likely to continue.

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - down;
• Fibonacci levels - down;
• Volumes - down;
• Candlestick analysis - down;
• Trend analysis - down;
• Bollinger lines - up;
• Weekly chart - down.

General conclusion:

Today, the price from the level of 1.2165 (closing of last Friday's daily candlestick) may start moving down, with the target at 1.2107 - the 14.6% retracement level (red dotted line). Once this level is tested, the price may continue to move upward, with the target at 1.2166 - the price level of 161.8% (blue dashed line). And if so, the upward movement is likely to continue.

Alternative scenario: the price from the level of 1.2165 (closing of last Friday's daily candlestick), may start moving up, with the target at 1.2223 - the upper border of the Bollinger line indicator (black dashed line).