FX.co ★ Indicator analysis: Daily review of EUR/USD on August 9, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0195 (close of yesterday's daily candle) to 1.0281, the 50.0% retracement level (red dotted line). When testing this level, a downward movement is possible to 1.0243, the 14.6% retracement level (blue dotted line). From this level, the price may move up.

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 upward from the level of 1.0195 (close of yesterday's daily candle) to 1.0281, the 50.0% retracement level (red dotted line). When testing this level, a downward movement is possible to 1.0243, the 14.6% retracement level (blue dotted line). From this level, the price may move up.

Alternative scenario: from the level of 1.0195 (close of yesterday's daily candle), the price may move down to the support level 1.0173 (thick white line). When testing this level, an upward movement is possible to 1.0281, the 50.0% retracement level (red dotted line). When testing this level, the price may move down.