FX.co ★ Indicator analysis: Daily review of EUR/USD on January 20, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0833 (closing of yesterday's daily candle) to the upper fractal at 1.0887 (yellow dotted line). When testing this level, continued upward movement is possible to 1.0962, the upper limit of the Bollinger band indicator (black dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0833 (closing of yesterday's daily candle) to the upper fractal at 1.0887 (yellow dotted line). When testing this level, continued upward movement is possible to 1.0962, the upper limit of the Bollinger band indicator (black dotted line).

Alternatively, the price may move upward from the level of 1.0833 (closing of yesterday's daily candle) to the upper fractal at 1.0887 (yellow dotted line). When testing this level, a downward movement is possible to 1.0827, the 14.6% retracement level (red dotted line).