FX.co ★ Indicator analysis. Daily review of the EUR/USD pair for August 20, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1674 (closing of yesterday's daily candlestick) will move upward and try to reach the 14.6% retracement level, which is 1.1701 (blue dotted line). After testing this level, it is possible to continue moving upward with the target at 1.1723 - the 23.6% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.1674 (closing of yesterday's daily candlestick) will move upward and try to reach the 14.6% retracement level, which is 1.1701 (blue dotted line). After testing this level, it is possible to continue moving upward with the target at 1.1723 - the 23.6% retracement level (blue dashed line).

Alternative scenario: the price from the level of 1.1674 (closing of yesterday's daily candlestick) will move upward and try to reach the 14.6% retracement level, which is 1.1701 (blue dashed line). After testing this level, it is possible to continue moving downward with the target at 1.1608 - the lower border of the Bollinger line indicator (black dashed line).