FX.co ★ Indicator analysis: Daily review of EUR/USD on February 7, 2022

Trend analysis (Fig. 1).

The market may move down on Monday from the level of 1.1449 (close of Friday's daily candle) to the target level of 1.1398, the 23.6% retracement level (red dotted line). When testing this level, the price may start to move up to the target level of 1.1483, the upper fractal (yellow dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger bands - up;

- Weekly chart - up.

General conclusion:

The price may move down today from the level of 1.1449 (close of Friday's daily candle) to the target level of 1.1398, the 23.6% retracement level (red dotted line). When testing this level, the price may start to move up to the target level of 1.1483, the upper fractal (yellow dotted line).

Alternative scenario: from the level of 1.1449 (close of Friday's daily candle), the price may move down to the target level of 1.1345, the 38.2% retracement level (red dotted line). When testing this level, the price may start to move up.