FX.co ★ Indicator analysis. Daily review of the EUR/USD pair for August 16, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1794 (closing of last Friday's daily candlestick) may start moving down with the target of 1.1775 - 8 EMA (blue thin line). When this line is tested, it is likely to continue moving upward with the target of 1.1831 - the 61.8% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.1794 (closing of last Friday's daily candlestick) may start moving down with the target of 1.1775 - 8 EMA (blue thin line). When this line is tested, it is likely to continue moving upward with the target of 1.1831 - the 61.8% retracement level (blue dashed line).

Alternative scenario: the price from the level of 1.1794 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.1860 - the 76.4% retracement level (blue dashed line). When this level is tested, it is possible to continue moving upward with the target of 1.1878 - the 85.4% retracement level (blue dashed line).