FX.co ★ Indicator analysis: Daily review of EUR/USD on September 20, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0678 (closing of yesterday's daily candle) with a target of 1.0728, the 85.4% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible to 1.0786, the 76.4% pullback level (red dotted line). Much will depend on the market reaction to the news, which comes out at 18:00 UTC.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from the level of 1.0678 (closing of yesterday's daily candle) with a target of 1.0728, the 85.4% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible to 1.0786, the 76.4% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.0678 (closing of yesterday's daily candle) with a target of 1.0728, the 85.4% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with a target of 1.0707, the historical support level (blue dotted line). In the case of testing this level, the price may move up.