FX.co ★ Indicator analysis: Daily review of EUR/USD on August 16, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0906 (closing of yesterday's daily candle) with the target of 1.0955, the 38.2% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible to 1.0997, the 23.6% pullback level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0906 (closing of yesterday's daily candle) with the target of 1.0955, the 38.2% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible to 1.0997, the 23.6% pullback level (blue dotted line).

Alternatively, the price may move upward from the level of 1.0906 (closing of yesterday's daily candle) with the target of 1.0955, the 38.2% pullback level (red dotted line). Upon reaching this level, a downward movement is possible to 1.0941, the 8-day EMA (blue thin line).