FX.co ★ Indicator analysis: Daily review of EUR/USD on October 11, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9702 (closing of yesterday's daily candle) to 0.9645, the 76.4% retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9732, the 23.6% retracement level (blue dotted line). From this level, the price may continue to move up with the target of 0.9853, the 38.2% retracement level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from the level of 0.9702 (closing of yesterday's daily candle) to 0.9645, the 76.4% retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9732, the 23.6% retracement level (blue dotted line). From this level, the price may continue to move up with the target of 0.9853, the 38.2% retracement level (blue dotted line).

Alternatively, the price may move upward from the level of 0.9702 (closing of yesterday's daily candle) with the target of 0.9768, the 8-period EMA (thin blue line). When testing this level, a downward movement is possible to 0.9712, the 61.8% retracement level (red dotted line). In the case of testing this level, the price may move up.