FX.co ★ Indicator analysis: EUR/USD daily review on December 7, 2023

Trend analysis (Fig. 1)

EUR/USD may move upwards from the level of 1.0763 (closing of yesterday's daily candle) to the resistance line at 1.0811 (white bold line). Upon reaching this price, it may go to the historical resistance level of 1.0836 (blue dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

volume- uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: EUR/USD will rise from 1.0763 (closing of yesterday's daily candle) to the resistance line at 1.0811 (white bold line), and then go to the historical resistance level of 1.0836 (blue dashed line).

Alternatively, it could climb from 1.0763 (closing of yesterday's daily candle) to the resistance line at 1.0811 (white bold line), followed by a decline to the historical resistance level of 1.0769 (blue dashed line).