FX.co ★ Indicator Analysis of EUR/USD on February 5, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move downward from the level of 1.0786 (closing of Friday's daily candlestick) to 1.0764, the 38.2% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0832, the 14.6% pullback level (red dotted line). From this level, the price may continue to move upward.

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.

Today, the price may move downward from the level of 1.0786 (closing of Friday's daily candlestick) to 1.0764, the 38.2% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.0832, the 14.6% pullback level (red dotted line). From this level, the price may continue to move upward.

Alternatively, the price may move upward from the level of 1.0786 (closing of Friday's daily candlestick) to 1.0832, the 14.6% pullback level (red dotted line). From this level, the price may move down.