FX.co ★ Indicator analysis: EUR/USD daily review on December 27, 2023

Trend analysis (Fig. 1)

On Wednesday, from the level of 1.1041 (closing of yesterday's daily candle), EUR/USD will rise and test the historical resistance level of 1.1063 (blue dashed line). After that, it may continue moving upward to the 76.4% retracement level of 1.1080 (blue dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

Fibonacci levels - uptrend

Indicator analysis - uptrend

Volume - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: Moving upwards from the level of 1.1041 (closing of yesterday's daily candle), EUR/USD will test the historical resistance level of 1.1063 (blue dashed line), and then head to the 76.4% retracement level of 1.1080 (blue dashed line).

Alternatively, it could climb from the level of 1.1041 (closing of yesterday's daily candle) to the historical resistance level of 1.1063 (blue dashed line), followed by a decline to the upper fractal at 1.1040 (daily candle from December 22, 2023).