FX.co ★ Indicator analysis: Daily review of EUR/USD on May 15, 2023

Trend analysis (Fig. 1).

The market may move downward from the level of 1.0847 (closing of Friday's daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0847 (closing of Friday's daily candle) with the target of 1.0805, the 50% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0847, the lower fractal (daily candle from 05/12/2023).

Alternatively, the price may move upward from the level of 1.0847 (closing of Friday's daily candle) with the target of 1.0905, the 23.6% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.0930, the historical resistance level (blue dotted line).