FX.co ★ Indicator analysis: Daily review of EUR/USD on January 3, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0665 (closing of yesterday's daily candle) to 1.0612, the historical support level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0735 (blue dotted line). Upon testing this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0665 (closing of yesterday's daily candle) to 1.0612, the historical support level (blue dotted line). When testing this level, an upward movement is possible to the upper fractal at 1.0735 (blue dotted line). Upon testing this level, the price may continue to move up.

Alternatively, the price may move downward from the level of 1.0665 (closing of yesterday's daily candle) to 1.0561, the 14.6% retracement level (blue dotted line). From this level, the price may move up.