FX.co ★ Indicator analysis: Daily review of EUR/USD on July 20, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.1200 (closing of yesterday's daily candle) to 1.1240, the upper fractal (daily candle from 07/19/2023). From this level, the price may move downward with the target of 1.1171, the 23.6% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.1200 (closing of yesterday's daily candle) to 1.1240, the upper fractal (daily candle from 07/19/2023). From this level, the price may move downward with the target of 1.1171, the 23.6% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.1200 (closing of yesterday's daily candle) to 1.1240, the upper fractal (daily candle from 07/19/2023). From this level, the price may move downward to 1.1121, the 161.8% pullback level (blue dotted line).