FX.co ★ Indicator analysis: Daily review of EUR/USD on August 1, 2024

Trend Analysis (Fig. 1)

Today, EUR/USD may continue to fall from 1.0824 (the close of yesterday's daily candle) with a target of 1.0807 – the 50% pullback level (red dashed line). Upon reaching this level, the price may start rising with a target of 1.0845 – the record resistance level (blue dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

• Indicator analysis – Down
• Fibonacci levels – Down
• Volumes – Down
• Candlestick analysis – Down
• Trend analysis – Down
• Bollinger Bands – Down
• Weekly chart – Down

General Conclusion:

Today, EUR/USD may continue to fall from 1.0824 (the close of yesterday's daily candle) with a target of 1.0807 – the 50% pullback level (red dashed line). Upon reaching this level, the price may start rising with a target of 1.0845 – the record resistance level (blue dashed line).

Alternative scenario: On Thursday, the pair may continue to fall from 1.0824 (the close of yesterday's daily candle) with a target of 1.0798 – the lower fractal (daily candle from July 30, 2024). Upon reaching this level, the price may start rising with a target of 1.0845 – the record resistance level (blue dashed line).