FX.co ★ Indicator analysis of EUR/USD on September 23, 2024

Trend-following analysis (figure 1)

On Monday, the market may start moving down from the level of 1.1162 (Friday's daily candle close), targeting 1.1138, which is the 14.6% retracement level (yellow dashed line). From this level, the price could begin to move up towards 1.1181, which is the upper fractal (daily candle from September 20, 2024).

Figure 1 (daily chart)

Complex analysis

Indicator analysis – down

Fibonacci levels – down

Volume – down

Candlestick analysis – down

Trend-following analysis – down

Bollinger bands – down

Weekly chart – down

Conclusion

Today, from the level of 1.1162 (Friday's daily candle close), the price may start moving down towards 1.1138 – the 14.6% retracement level (yellow dashed line). From this level, the price could begin moving up to 1.1181 – the upper fractal (daily candle from September 20, 2024).

Alternative scenario. From the level of 1.1162 (Friday's daily candle close), EUR/USD may start moving down towards 1.1138 – the 14.6% retracement level (yellow dashed line). From this level, the price may continue moving down towards 1.1122 – the 14.6% retracement level (blue dashed line).