FX.co ★ Indicator analysis: Daily review of EUR/USD on May 24, 2023

Trend analysis (Fig. 1).

The market may move upward from the level of 1.0769 (closing of yesterday's daily candle) with the target of 1.0796, the 5-day EMA (thin red line). Upon reaching this level, a downward movement is possible with the target of 1.0737, the 61.8% pullback level (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0769 (closing of yesterday's daily candle) with the target of 1.0796, the 5-day EMA (thin red line). Upon reaching this level, a downward movement is possible with the target of 1.0737, the 61.8% pullback level (yellow dotted line).

Alternatively, the price may move upward from the level of 1.0769 (closing of yesterday's daily candle) with the target of 1.0818, the 8-day EMA (thin blue line). Upon reaching this level, a downward movement is possible with the target at 1.0760, the lower fractal (red dotted line).