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

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0014 (close of Friday's daily candle) to the target of 0.9945, the 76.4% retracement level (red dotted line). After testing this level, an upward pullback is possible to test 0.9982, the 23.6% retracement level (white dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.0056, the 38.2% retracement level (white dotted line).

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 1.0014 (close of Friday's daily candle) to the target of 0.9945, the 76.4% retracement level (red dotted line). After testing this level, an upward pullback is possible to test 0.9982, the 23.6% retracement level (white dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.0056, the 38.2% retracement level (white dotted line).

Alternative scenario: from the level of 1.0014 (close of Friday's daily candle), the price may move downward with the target of 0.9912, the 85.4% retracement level (red dotted line). After testing this level, an upward pullback is possible to test 0.9937, the 14.6% retracement level (white dotted line), where further upward movement is possible.