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

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9983 (close of yesterday's daily candle) to the target of 0.9931, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible with the target of 1.0050, the 61.8% retracement level (blue dotted line). When testing this level, the price may continue to move up with the target of 1.0170, the 76.4% retracement level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 0.9983 (close of yesterday's daily candle) to the target of 0.9931, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible with the target of 1.0050, the 61.8% retracement level (blue dotted line). When testing this level, the price may continue to move up with the target of 1.0170, the 76.4% retracement level (blue dotted line).

Alternatively, the price may move up from the level of 0.9983 (close of yesterday's daily candle) to 1.0050, the 61.8% retracement level (blue dotted line). After testing this level, the price may move down to test the support level at 0.9990 (thick red line).