FX.co ★ Indicator analysis: Daily review of EUR/USD on July 13, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0035 (close of yesterday's daily candle) to the target of 1.0089, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0144, the 23.6% retracement level (red dotted line). Upon reaching this level, continued upward movement is possible.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0035 (close of yesterday's daily candle) to the target of 1.0089, the 14.6% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0144, the 23.6% retracement level (red dotted line). Upon reaching this level, continued upward movement is possible.

Alternative scenario: from the level of 1.0035 (close of yesterday's daily candle), the price may move downward with the target of 0.9945, the 261.8% Fibonacci retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0000, the lower fractal (red dotted line). Upon reaching this level, the price may move up.