FX.co ★ Indicator analysis: Daily review of EUR/USD on January 17, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0821 (closing of yesterday's daily candle) to the upper fractal at 1.0874 (red dotted line). When testing this level, continued upward movement is possible to 1.0930, the upper border of the Bollinger line indicator (black dotted line). When testing this level, the price may move up.

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - 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 1.0821 (closing of yesterday's daily candle) to the upper fractal at 1.0874 (red dotted line). When testing this level, continued upward movement is possible to 1.0930, the upper border of the Bollinger line indicator (black dotted line).

Alternatively, the price may move upward from the level of 1.0821 (closing of yesterday's daily candle) to the upper fractal at 1.0874 (red dotted line). When testing this level, a downward movement is possible to 1.0816 (red dotted line). From this level, the price may move up.