FX.co ★ Indicator analysis: EUR/USD daily review on July 26, 2023

Trend analysis (Fig. 1)

EUR/USD, moving upwards from the level of 1.1051 (closing price of yesterday's daily candle), will test the 38.2% retracement level of 1.1106 (red dashed line) on Wednesday, and then head towards the 23.6% retracement level of 1.1171 (red dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - downtrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: EUR/USD will rise from the level of 1.1051 (closing price of yesterday's daily candle) to the 38.2% retracement level of 1.1106 (red dashed line), followed by a move towards the 23.6% retracement level of 1.1171 (red dashed line).

Alternatively, the pair could go up from the level of 1.1051 (closing price of yesterday's daily candle) to the 38.2% retracement level of 1.1106 (red dashed line), and then start a downward movement towards the 50.0% retracement level of 1.1088 (red dashed line).