FX.co ★ Indicator analysis. Daily review of the EUR/USD pair for August 26, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1771 (closing of yesterday's daily candlestick) will try to roll back downwards in order to test the 23.6% retracement level, 1.1748 (yellow dashed line). Upon reaching this level, the price may continue to move upward with the target at 1.1787 - the 50.0% retracement level (blue dashed line). When this level is tested, the upward movement may continue.

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 - up.

General conclusion:

Today, the market from the level of 1.1771 (closing of yesterday's daily candlestick) will try to roll back downwards in order to test the 23.6% retracement level, 1.1748 (yellow dashed line). Upon reaching this level, the price may continue to move upward with the target at 1.1787 - the 50.0% retracement level (blue dashed line). When this level is tested, the upward movement may continue.

Alternative scenario: from the level of 1.1771 (closing of yesterday's daily candlestick), it will try to roll back downwards in order to test the 23.6% retracement level, 1.1748 (yellow dashed line). Upon reaching this level, the price may continue to move down with the target at 1.1732 - the retracement level of 38.2% (yellow dashed line). When this level is tested, it is possible to move upward.