FX.co ★ Indicator analysis: Daily review of EUR/USD on January 31, 2022

Trend analysis (Fig. 1).

The market may move up on Monday from the level of 1.1147 (close of Friday's daily candle) to the target level of 1.1174, the 14.6% retracement level (yellow dotted line). When testing this level, the price may continue to move upwards to the target level of 1.1206, 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 1.1147 (close of Friday's daily candle) to the target level of 1.1174, the 14.6% retracement level (yellow dotted line). When testing this level, the price may continue to move upwards to the target level of 1.1206, the 23.6% retracement level (yellow dotted line).

Alternative scenario: from the level of 1.1147 (close of Friday's daily candle), the price may start moving upwards to the target level of 1.1174, the 14.6% retracement level (yellow dotted line). When testing this level, the price may move down to the target level of 1.1121, the lower fractal (yellow dotted line). When testing this level, the price may again move up to the target level of 1.1174, the 14.6% retracement level (yellow dotted line).