FX.co ★ Indicator analysis: Daily review of EUR/USD on August 11, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0980 (closing of yesterday's daily candle) to 1.1061, the upper fractal (daily candle from 08/10/2023). In the case of testing this level, a downward movement is possible with the target at 1.1042, the upper fractal (daily candle from 08/04/2023).

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 1.0980 (closing of yesterday's daily candle) to 1.1061, the upper fractal (daily candle from 08/10/2023). In the case of testing this level, a downward movement is possible with the target at 1.1042, the upper fractal (daily candle from 08/04/2023).

Alternatively, the price may move upward from the level of 1.0980 (closing of yesterday's daily candle) with the target at 1.0997, the 23.6% pullback level (blue dotted line). From this level, the price may move down.