FX.co ★ Indicator Analysis of EUR/USD on January 17, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0874 (closing of yesterday's daily candle) to 1.0902, the 14.6% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0927, the 23.6% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from the level of 1.0874 (closing of yesterday's daily candle) to 1.0902, the 14.6% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0927, the 23.6% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.0874 (closing of yesterday's daily candle) to 1.0902, the 14.6% pullback level (red dotted line). In the case of testing this level, a downward movement is possible to the lower fractal at 1.0862 (red dotted line).