FX.co ★ Indicator analysis of EUR/USD on August 7

Trend analysis (fig. 1).

Today, the pair is likely to drop to 1.0938, the Fibo retracement level of 76.4% (red dotted line) from 1.1006 (Friday's daily candlestick closing). When testing this level, the price could rise to 1.1002, the Fibo retracement level of 61.8% (red dotted line).

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis– down;

- Fibonacci retracement levels – down;

- trading volumes – down;

- candlestick analysis – up;

- trend analysis – up;

- Bollinger bands – down;

- weekly chart - down.

Conclusion:

Today, the pair is likely to drop to 1.0938, the Fibo retrecement level of 76.4% (red dotted line) from 1.1006 (Friday's daily candlestick closing). When testing this level, the price could rise to 1.1002, the Fibo retracement level of 61.8% (red dotted line).

Alternatively,the price may tumble to the support level of 1.0924 (blue bold line)from 1.1006 (Friday's daily candlestick closing). When testing this level, the price could climb to the historical resistance level of 1.1013 (blue dotted line).