FX.co ★ Indicator analysis: Daily review of EUR/USD on October 12, 2023

Trend analysis (Fig. 1).

Today, the EUR/USD currency pair may move upward from the level of 1.0618 (closing of yesterday's daily candle) to 1.0643, the 23.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0707, the historical resistance 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 1.0618 (closing of yesterday's daily candle) to 1.0643, the 23.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0707, the historical resistance level (blue dotted line).

Alternatively, the price may move upward from the level of 1.0618 (closing of yesterday's daily candle) to 1.0643, the 23.6% pullback level (blue dotted line). From here, the price may move downwards to the 1.0615 support level (red thick line).