FX.co ★ Indicator analysis: Daily review of EUR/USD on August 2, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0983 (closing of yesterday's daily candle) to test 1.1038, the 13-day EMA (yellow thin line). Upon reaching this level, a continued upward movement is possible to 1.1053, the 50.0% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0983 (closing of yesterday's daily candle) to test 1.1038, the 13-day EMA (yellow thin line). Upon reaching this level, a continued upward movement is possible to 1.1053, the 50.0% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.0983 (closing of yesterday's daily candle) to test 1.1038, the 13-day EMA (yellow thin line). Upon reaching this level, a downward movement is possible to 1.1002, the 61.8% pullback level (red dotted line).