FX.co ★ Indicator analysis: Daily review of EUR/USD for January 3, 2022

Trend analysis (Fig. 1).

The market may move down on Monday from the level of 1.1384 (closing of Friday's daily candle) to the target level of 1.1339, the 23.6% retracement level (red dotted line). When testing this level, the price may move upward to the target level of 1.1439, the 50.0% retracement level (blue dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

The price may move down from the level of 1.1384 (closing of Friday's daily candle) to the target level of 1.1339, the 23.6% retracement level (red dotted line). When testing this level, the price may move upward to the target level of 1.1439, the 50.0% retracement level (blue dotted line).

Alternative scenario: from the level of 1.1384 (closing of Friday's daily candle), the price may start moving down to the target level of 1.1339, the 23.6% retracement level (red dotted line). When testing this level, the price may continue to move down to the target level of 1.1309, the 38.2% retracement level (red dotted line). When testing this level, the price may start moving up.