FX.co ★ Indicator analysis. Daily review of the EUR/USD pair for July 14, 2021

Trend analysis (Fig. 1).

The market from the level of 1.1775 (closing of yesterday's daily candlestick) will try to start moving upwards with the target at 1.1811 - the historical resistance level (blue dotted line). When this level is tested, the upward movement may continue with the target at 1.1846 - the 14.6% retracement level (blue dashed line). And from this level, the upward movement is likely to continue.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.1775 (closing of yesterday's daily candlestick) will try to start moving upwards with the target at 1.1811 - the historical resistance level (blue dotted line). When this level is tested, the upward movement may continue with the target at 1.1846 - the 14.6% retracement level (blue dashed line). And from this level, the upward movement is likely to continue.

Alternative scenario: from the level of 1.1775 (closing of yesterday's daily candlestick), it will try to start moving upwards with the target at 1.1811 - the historical resistance level (blue dotted line). From this level, the downward movement may continue with the target at 1.1772 - the lower fractal (blue dashed line). Once this level is tested, it is possible to move upward with the target at 1.1843 - the 14.6% retracement level (blue dashed line).