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

Trend analysis (Fig. 1).

The euro-dollar pair may move down from the level of 1.0695 (close of yesterday's daily candle) to 1.0668, the 21-period EMA (thin black line). When testing this level, the price may move up to the historical resistance at 1.0760 (blue dotted line). From this level, it is possible to continue the upward movement.

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis – up;
• Fibonacci levels – up;
• Volumes – up;
• Candlestick analysis – down;
• Trend analysis – up;
• Bollinger bands – up;
• Weekly chart – up.

General conclusion:

Today, the price may move down from the level of 1.0695 (close of yesterday's daily candle) to 1.0668, the 21-period EMA (thin black line). When testing this level, the price may move up to the historical resistance at 1.0760 (blue dotted line). From this level, it is possible to continue the upward movement.

Alternative scenario: from the level of 1.0695 (close of yesterday's daily candle), the price may move downward to 1.0668, the 21-period EMA (thin black line). When testing this level, the price may continue to move up to the resistance at 1.0702 (thick white line). From here, downward movement is possible.