FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on June 4, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2126 (closing of yesterday's daily candlestick) will move downward and try to reach the historical support level - 1.2075 (blue dotted line). Once this level is tested, an upward movement is possible with the target of 1.2156 - 21 EMA (black thin line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.2126 (closing of yesterday's daily candlestick) will move downward and try to reach the historical support level - 1.2075 (blue dotted line). Once this level is tested, an upward movement is possible with the target of 1.2156 - 21 EMA (black thin line).

Alternative scenario: the price from the level of 1.2126 (closing of yesterday's daily candlestick) will move downward and try to reach the 38.2% retracement level - 1.2051 (red dotted line). After testing this level, it is possible that it will start working upwards with the target of 1.2102 - the 76.4% retracement level (yellow dashed line).