FX.co ★ Indicator analysis of EUR/USD for January 28, 2022

Trend analysis (Fig. 1).

The market may move up on Friday from the level of 1.1143 (close of yesterday's daily candle) to reach the target level of 1.1183, the 14.6% retracement level (yellow dotted line). After testing this level, the upward movement may continue to the target level of 1.1214, the 23.6% retracement level (yellow dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger bands - up;

- Weekly chart - up.

General conclusion:

The price may move up today from the level of 1.1143 (close of yesterday's daily candle) to reach the target level of 1.1183, the 14.6% retracement level (yellow dotted line). After testing this level, the upward movement may continue to the target level of 1.1214, the 23.6% retracement level (yellow dotted line).

Alternative scenario: from the level of 1.1143 (close of yesterday's daily candle), the price may continue to move down to the historical support level of 1.1082 (blue dotted line). After testing this level, the price may begin to move up to the target level of 1.1132, the lower fractal (yellow dotted line), where continued upward movement is expected.