FX.co ★ Indicator analysis: Daily review of EUR/USD on September 5, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9953 (close of Friday's daily candle) to the target of 0.9900, the lower fractal (white dotted line). After testing this level, an upward movement is possible to test 0.9968, the 14.6% retracement level (white dotted line). From this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from the level of 0.9953 (close of Friday's daily candle) to the target of 0.9900, the lower fractal (white dotted line). After testing this level, an upward movement is possible to test 0.9968, the 14.6% retracement level (white dotted line). From this level, the price may continue to move up.

Alternative scenario: from the level of 0.9953 (close of Friday's daily candle), the price may move downward to test 0.9803, the 208% Fibonacci retracement level (blue dotted line). After testing this level, an upward movement is possible with the target at 0.9900, the lower fractal (white dotted line).