FX.co ★ Indicator analysis: Daily review of EUR/USD on September 8, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0006 (close of yesterday's daily candle) to test 0.9977, the 23.6% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to 1.0056, the 38.2% retracement level (white dotted line). From this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0006 (close of yesterday's daily candle) to test 0.9977, the 23.6% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to 1.0056, the 38.2% retracement level (white dotted line). From this level, the price may continue to move up.

Alternative scenario: from the level of 1.0006 (close of yesterday's daily candle), the price may move downward to test 0.9952, the 38.2% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to 1.0056, the 38.2% retracement level (white dotted line).