FX.co ★ Indicator analysis: Daily review of EUR/USD on September 22, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9836 (close of yesterday's daily candle) to test 0.9802, the 208% Fibonacci retracement level (blue dotted line). Upon reaching this level, an upward movement is possible to 0.9869, 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 0.9836 (close of yesterday's daily candle) to test 0.9802, the 208% Fibonacci retracement level (blue dotted line). Upon reaching this level, an upward movement is possible to 0.9869, the 14.6% retracement level (white dotted line). From this level, the price may continue to move up.

Alternative scenario: from the level of 0.9836 (close of yesterday's daily candle), the price may move downward to test the historical support level of 0.9709 (blue dotted line). Upon reaching this level, an upward movement is possible to the lower fractal 0.9813 (white dotted line). From this level, the price may continue to move up.