FX.co ★ Indicator analysis of EUR/USD for April 7, 2022

Trend analysis (Fig. 1).

The market may move up from the level of 1.0894 (close of yesterday's daily candle) to the target of 1.0947, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move up to test 1.0992, the 38.2% retracement (red dotted line). When this level is reached, the price may roll back down.

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:

Today, the price may move up from the level of 1.0894 (close of yesterday's daily candle) to the target of 1.0947, the 23.6% retracement level (red dotted line). In case of testing this level, the price may continue to move up to test 1.0992, the 38.2% retracement (red dotted line). When this level is reached, the price may roll back down.

Alternative scenario: from the level of 1.0894 (close of yesterday's daily candle), the price may move up with the target of 1.0947, the 23.6% retracement level (red dotted line). In case of testing this level, the price may move down to test the lower fractal 1.0874 (red dotted line). Upon testing this level, upward movement is possible.