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

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0948 (closing of yesterday's daily candle) to 1.1013, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible with the target of 1.0988, the 13-day EMA (blue thin line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0948 (closing of yesterday's daily candle) to 1.1013, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible with the target of 1.0988, the 13-day EMA (blue thin line).

Alternatively, the price may move upward from the level of 1.0948 (closing of yesterday's daily candle) with the target of 1.1054, the 50% pullback level (red dotted line). From this level, the price may move down.