FX.co ★ Indicator analysis. Daily review of the EUR/USD pair for July 7, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1822 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.1786 - the 85.4% retracement level (red dashed line). Once this line is tested, the downward movement may continue with the target at 1.1703 - the lower fractal (red dotted line). When this level is reached, it is possible to start moving upward.

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 1.1822 (closing of yesterday's daily candlestick) will try to continue moving down with the target of 1.1786 - the 85.4% retracement level (red dashed line). Once this line is tested, the downward movement may continue with the target at 1.1703 - the lower fractal (red dotted line). When this level is reached, it is possible to start moving upward.

Alternative scenario: from the level of 1.1822 (closing of yesterday's daily candlestick), it will try to start moving upwards with the target at 1.1874 - the 14.6% retracement level (blue dashed line). Once this level is tested, the upward movement may continue with the target of 1.1915 - the 23.6% retracement level (blue dashed line).