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

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0560, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0658 (daily candle from 12/20/2022). From this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0560, the 14.6% retracement level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0658 (daily candle from 12/20/2022). From this level, the price may continue to move up.

Alternatively, the price may move downward from the level of 1.0623 (closing of yesterday's daily candle) to 1.0566, the 13-period EMA (thin yellow line). From this level, the price may move up.