FX.co ★ Indicator analysis: EUR/USD daily review on September 29, 2023

Trend analysis (Fig. 1)

EUR/USD may continue to move upward from the level of 1.0564 (closing of yesterday's daily candle) to the 14.6% retracement level of 1.0603 (blue dashed line). Upon reaching this price, the pair will go towards the 13 EMA at 1.0624 (yellow thin line).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - downtrend

Weekly chart - uptrend

Conclusion: GBP/USD will rise from the level of 1.0564 (closing of yesterday's daily candle) to the 14.6% retracement level of 1.0603 (blue dashed line), and then head towards the 13 EMA at 1.0624 (yellow thin line).

Alternatively, the pair may continue to climb up from the level of 1.0564 (closing of yesterday's daily candle) to the 14.6% retracement level of 1.0603 (blue dashed line), followed by a decline to the 5 EMA at (red thin line).