FX.co ★ Indicator analysis: Daily review of EUR/USD on July 4, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move downward from the level of 1.0910 (closing of yesterday's daily candle) to test 1.0867, the 38.2% pullback level (blue dotted line). Upon testing this level, an upward movement is possible with the target of 1.0919, the 61.8% pullback level (red dotted line). When testing this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0910 (closing of yesterday's daily candle) to test 1.0867, the 38.2% pullback level (blue dotted line). Upon testing this level, an upward movement is possible with the target of 1.0919, the 61.8% pullback level (red dotted line). When testing this level, the price may continue to move up.

Alternatively, the price may move downward from the level of 1.0910 (closing of yesterday's daily candle) to test 1.0880, the 21-period EMA (thin black line). Upon testing this level, an upward movement is possible with the target of 1.0919, the 61.8% pullback level (red dotted line).