FX.co ★ Indicator analysis: EUR/USD daily review on December 28, 2022

Trend analysis (Fig. 1)

EUR/USD is likely to continue moving upwards on Wednesday, starting from the closing of yesterday's daily candle at 1.0638 to the upper fractal at 1.0735 (blue dotted line). Upon reaching this level, the pair will pullback to the support level of 1.0656 (thick white line), then resume climbing upwards.

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Volumes - uptrend

Candlestick analysis - downtrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: EUR/USD will rise from 1.0638 (closing of yesterday's daily candle) to 1.0735, which is the upper fractal (blue dotted line), go down to the support level of 1.0656 (thick white line), then resume climbing upwards.

Alternatively, the pair could fall from 1.0638 (closing of yesterday's daily candle) to the 14.6% retracement level at 1.0560 (blue dotted line), followed by a move upwards.