FX.co ★ Indicator analysis: Daily review of EUR/USD on November 17, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move downward from the level of 1.0851 (closing of yesterday's daily candle) to 1.0833, the 14.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0895 (daily candle from 16/11/2023).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.0851 (closing of yesterday's daily candle) to 1.0833, the 14.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0895 (daily candle from 16/11/2023).

Alternatively, the price may move downward from the level of 1.0851 (closing of yesterday's daily candle) to 1.0799, the 23.6% pullback level (yellow dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0895 (daily candle from 16/11/2023).