FX.co ★ Indicator analysis of EUR/USD for April 4, 2022

Trend analysis (Fig. 1).

The market may move down from the level of 1.1046 (close of Friday's daily candle) to the target of 1.1036, the 61.8% retracement level (yellow dotted line). In case of testing this level, the price may continue to move downward with the target of 1.1001, the 76.4% retracement level (yellow dotted line). After testing this level, the price may move up to the target of 1.1082, the historical resistance 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 bands - up;
• Weekly chart - up.

General conclusion:

The price may move down from the level of 1.1046 (close of Friday's daily candle) to the target of 1.1036, the 61.8% retracement level (yellow dotted line). In case of testing this level, the price may continue to move downward with the target of 1.1001, the 76.4% retracement level (yellow dotted line). After testing this level, the price may move up to the target of 1.1082, the historical resistance level (blue dotted line).

Alternative scenario: from the level of 1.1046 (close of Friday's daily candle), the price may move downward with the target of 1.1036, the 61.8% retracement level (yellow dotted line). After testing this level, the price may move upward with the target of 1.1082, the historical resistance level (blue dotted line).