FX.co ★ Indicator analysis: Daily review of EUR/USD on January 4, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0546 (closing of yesterday's daily candle) to 1.0612, the historical resistance level (blue dotted line). When testing this level, continued upward movement is possible to the 1.0658 resistance level (thick red line). From this level, the price may continue to 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 1.0546 (closing of yesterday's daily candle) to 1.0612, the historical resistance level (blue dotted line). When testing this level, continued upward movement is possible to the 1.0658 resistance level (thick red line). From this level, the price may continue to move up.

Alternatively, the price may move upward from the level of 1.0546 (closing of yesterday's daily candle) to 1.0612, the historical resistance level (blue dotted line). When testing this level, a downward movement is possible to 1.0560, the 14.6% retracement level (blue dotted line). From this level, the price may move up.