FX.co ★ Indicator analysis: Daily review of EUR/USD on November 16, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0347 (close of yesterday's daily candle) to the upper fractal at 1.0479 (blue dotted line). When testing this level, a downward pullback is possible with the target of 1.0369, the 14.6% retracement level (blue dotted line). When testing this level, the price may move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move upward from the level of 1.0347 (close of yesterday's daily candle) to the upper fractal at 1.0479 (blue dotted line). When testing this level, a downward pullback is possible with the target of 1.0369, the 14.6% retracement level (blue dotted line). When testing this level, the price may move up.

Alternatively, the price may move upward from the level of 1.0347 (close of yesterday's daily candle) to 1.0456, the 85.4% retracement level (yellow dotted line). When testing this level, a downward pullback is possible with the target of 1.0302, the 23.6% retracement level (blue dotted line). When testing this level, the price may move up.