FX.co ★ Indicator analysis: Daily review of EUR/USD on December 5, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from 1.0835 (closing of yesterday's daily candle) to test 1.0862, the 50.0% pullback level (blue dotted line). From here, a continued upward movement is possible with a target of 1.0899, the 23.6% pullback level (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from 1.0835 (closing of yesterday's daily candle) to 1.0862, the 50.0% pullback level (blue dotted line). From here, a continued upward movement is possible with a target of 1.0899, the 23.6% pullback level (yellow dotted line).

Alternatively, the price may move upward from the level of 1.0835 (closing of yesterday's daily candle) to test 1.0862, the 50.0% pullback level (blue dotted line). After that, the price may move downward to the 1.0809 support level (white thick line).