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

Trend analysis (Fig. 1).

The market may move downward from the level of 1.0990 (closing of Friday's daily candlestick) with the target of 1.0937, the 23.6% pullback level (yellow dotted line). When testing this level, an upward movement is possible with the target of 1.0958, the 85.4% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

The market may move downward from the level of 1.0990 (closing of Friday's daily candlestick) with the target of 1.0937, the 23.6% pullback level (yellow dotted line). When testing this level, an upward movement is possible with the target of 1.0958, the 85.4% pullback level (red dotted line).

Alternatively, the price may move downward from the level of 1.0990 (closing of Friday's daily candlestick) with the target at the 1.0915 support level (bold white line). When testing this level, the price may move upward with the target of 1.0930, the historical resistance level (blue dotted line).