FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on May 19, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2222 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2271 - the upper border of the Bollinger line indicator (black dotted line). If this line is tested, the continuation of the upward work is possible, with the target at 1.2275 - the 85.4% retracement level (yellow dashed line). After testing this level, the continuation of the upward work is possible, with the target at 1.2345 - the historical resistance level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.2222 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2271 - the upper border of the Bollinger line indicator (black dotted line). If this line is tested, the continuation of the upward work is possible, with the target at 1.2275 - the 85.4% retracement level (yellow dashed line). After testing this level, the continuation of the upward work is possible, with the target at 1.2345 - the historical resistance level (blue dashed line).

Alternative scenario: from the level of 1.2222 (closing of yesterday's daily candlestick), it will try to continue moving upwards with the target of 1.2274 - the 85.4% retracement level (yellow dashed line). In case of testing this level, the downward work will begin, with the target of 1.2189 - the 14.6% retracement level (red dotted line).