FX.co ★ Indicator analysis: Daily review of EUR/USD on August 19, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0088 (close of yesterday's daily candle) to 1.0050, the 76.4% retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0107, the 23.6% retracement level (red dotted line). Upon reaching 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 downward from 1.0088 (close of yesterday's daily candle) to 1.0050, the 76.4% retracement level (blue dotted line). After testing this level, an upward movement is possible with the target of 1.0107, the 23.6% retracement level (red dotted line). Upon reaching this level, the price may move up.

Alternative scenario: from the level of 1.0088 (close of yesterday's daily candle), the price may move down to the lower fractal 1.0079 (daily candle from 08/18/2022). After testing this level, an upward movement is possible with the target of 1.0107, the 23.6% retracement level (red dotted line). When testing this level, the price may move up.