FX.co ★ Indicator analysis: EUR/USD daily review on February 24, 2022

Trend analysis (Fig. 1)

EUR/USD is likely to decline on Thursday, from the closing of yesterday's daily candle (1.1303) to the 76.4% retracement level (1.1207). Then, it will go to the lower fractal (1.1280).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - downtrend

Fibonacci levels - downtrend

Volumes - downtrend

Candlestick analysis - downtrend

Trend analysis - downtrend

Bollinger bands - downtrend

Weekly chart - downtrend

Conclusion: EUR/USD will dip from 1.1303 (closing of yesterday's daily candle) to 1.1207, which is the 76.4% retracement level (red dotted line). Then, it will go to 1.1280, which is the lower fractal (blue dotted line).

Alternatively, the pair could go down from 1.1303 (closing of yesterday's daily candle) to the 76.4% retracement level at 1.1207 (red dotted line), then move lower to the historical support level at 1.1190 (blue dotted line). After that it will bounce up to the lower fractal at 1.1280 (blue dotted line).