FX.co ★ Indicator Analysis of EUR/USD on February 6, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0741 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.0783 (red dotted line). After that, the price may continue to move upward with a target of 1.0821, the 23.6% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis – 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 1.0741 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.0783 (red dotted line). After that, the price may continue to move upward with a target of 1.0821, the 23.6% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.0741 (closing of yesterday's daily candle) to test the 14.6% pullback level at 1.0783 (red dotted line). After that, the price may move downward with a target of 1.0769, the historical support level (blue dotted line).