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

Trend Analysis (Fig. 1)

The market may move downward from the level of 1.0707 (closing of Friday's daily candle) with a target at the 1.0671 support level (bold red line). Upon testing this level, the price may move upward with a target of 1.0743, the 23.6% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0707 (closing of Friday's daily candle) with a target at the 1.0671 support level (bold red line). Upon testing this level, the price may move upward with a target of 1.0743, the 23.6% pullback level (red dotted line).

Alternatively, the price may move downward from the level of 1.0707 (closing of Friday's daily candle) with a target of 1.0653, the 76.4% pullback level (yellow dotted line). Upon testing this level, the price may move upward with a target of 1.0743, the 23.6% pullback level (red dotted line).