FX.co ★ Indicator analysis: Daily review of EUR/USD on December 6, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0796 (closing of yesterday's daily candle) to 1.0836, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0862, the 50% pullback 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 1.0796 (closing of yesterday's daily candle) to 1.0836, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0862, the 50% pullback level (blue dotted line).

Alternatively, the price may move upward from the level of 1.0796 (closing of yesterday's daily candle) to the 1.0802 resistance level (white thick line). When testing this level, a downward movement is possible with a target of 1.0769, the historical resistance level (blue dotted line).