FX.co ★ Indicator analysis: Daily review of EUR/USD on January 5, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0603 (closing of yesterday's daily candle) to the 1.0660 resistance level (thick red line). From this level, continued upward movement is possible to the upper fractal at 1.0736 (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0603 (closing of yesterday's daily candle) to the 1.0660 resistance level (thick red line). From this level, continued upward movement is possible to the upper fractal at 1.0736 (blue dotted line).

Alternatively, the price may move upward from the level of 1.0603 (closing of yesterday's daily candle) to the 1.0656 resistance level (red thick line). From this level, a downward movement is possible to test 1.0561, the 14.6% retracement level (blue dotted line).