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

Trend analysis (Fig. 1).

The market may move upward from the level of 1.1011 (closing of yesterday's daily candle) to 1.1095, the upper fractal (yellow dotted line). When testing this level, the price may move down.

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 1.1011 (closing of yesterday's daily candle) to 1.1095, the upper fractal (yellow dotted line). When testing this level, the price may move down.

Alternatively, the price may move upward from the level of 1.1011 (closing of yesterday's daily candle) to 1.1032, the 76.4% pullback level (blue dotted line). When testing this level, a downward movement is possible to 1.0958, the 23.6% pullback level (yellow dotted line).