FX.co ★ Indicator analysis: EUR/USD daily review on July 28, 2023

Trend analysis (Fig. 1)

On Friday, EUR/USD, continuing its downward movement from the level of 1.0977 (closing price of yesterday's daily candle), will test the support line located at 1.0930 (bold blue line), and then bounce back to the historical resistance level of 1.1013.

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - downtrend

Fibonacci levels - downtrend

Volumes - downtrend

Candlestick analysis - downtrend

Trend analysis - downtrend

Bollinger bands - low

Weekly chart - downtrend

Conclusion: EUR/USD will slide down from the level of 1.0977 (closing price of yesterday's daily candle) to the support line located at 1.0930 (bold blue line), followed by a rise towards the historical resistance level of 1.1013.

Alternatively, the pair could move up straight from the level of 1.0977 (closing price of yesterday's daily candle) to the historical resistance level of 1.1013.