FX.co ★ Indicator analysis: Daily review of EUR/USD on October 21, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9785 (closing of yesterday's daily candle) to 0.9739, the 61.8% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to the 0.9887 resistance level (thick red line). When testing this level, the price may roll back down.

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 0.9785 (closing of yesterday's daily candle) to 0.9739, the 61.8% retracement level (red dotted line). Upon reaching this level, an upward movement is possible to the 0.9887 resistance level (thick red line). When testing this level, the price may roll back down.

Alternatively, the price may move downward from the level of 0.9785 (closing of yesterday's daily candle) to 0.9699, the 76.4% retracement level (red dotted line). Upon reaching this level, an upward movement is possible with the target of 0.98016, the 50.0% retracement level (blue dotted line). When testing this level, the price may continue to move up.