FX.co ★ Indicator analysis: Daily review of EUR/USD on October 24, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9861 (close of Friday's daily candle) to 0.9817, the 23.6% retracement level (red dotted line). After testing this level, an upward movement is possible to the 0.9880 resistance level (thick red line). After testing this level, the price may continue to move upward to test 0.9913, the 76.4% retracement level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• indicator analysis - down;
• Fibonacci levels - down;
• volumes - down;
• candlestick analysis - down;
• trend analysis - up;
• Bollinger bands - down;
• weekly chart - up.

General conclusion:

Today, the price may move downward from the level of 0.9861 (close of Friday's daily candle) to 0.9817, the 23.6% retracement level (red dotted line). After testing this level, an upward movement is possible to the 0.9880 resistance level (thick red line). After testing this level, the price may continue to move upward to test 0.9913, the 76.4% retracement level (blue dotted line).

Alternatively, the price may move downward from the level of 0.9861 (close of Friday's daily candle) to 0.9783, the 38.2% retracement level (red dotted line). After testing this level, an upward movement is possible to the 0.9880 resistance level (thick red line).