FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on June 1, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2225 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2275 - the 85.4% retracement level (yellow dashed line). After testing this level, the price may continue to work upward with the target at 1.2345 - the historical resistance level (blue dotted line). Upon reaching this line, further rollback downward is possible.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.2225 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.2275 - the 85.4% retracement level (yellow dashed line). After testing this level, the price may continue to work upward with the target at 1.2345 - the historical resistance level (blue dotted line). Upon reaching this line, further rollback downward is possible.

Alternative scenario: the price from the level of 1.2225 (closing of yesterday's daily candlestick) will try to continue moving upward with the target at 1.2266 - the upper fractal (red dotted line). The price, having tested this level, may start working downwards with the target of 1.2198 - the support line (blue bold line).