FX.co ★ Indicator analysis. Daily review of the EUR/USD pair for August 18, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1708 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.1735 - the 14.6% retracement level (blue dotted line). When this level is tested, the upward movement may continue with the target at 1.1753 - the 23.6% retracement level (blue dashed line). From this level, it is likely to continue moving upward.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.1708 (closing of yesterday's daily candlestick) will try to start moving upwards with the target of 1.1735 - the 14.6% retracement level (blue dotted line). When this level is tested, the upward movement may continue with the target at 1.1753 - the 23.6% retracement level (blue dashed line). From this level, it is likely to continue moving upward.

Alternative scenario: from the level of 1.1708 (closing of yesterday's daily candlestick), it will try to continue moving down with the target at 1.1643 - the lower border of the Bollinger line indicator (black dashed line). Once this level is tested, it may continue moving upward with the target at 1.1727 - the resistance line (white bold line).