Indicator analysis: Daily review on EUR / USD for January 13, 2020

The pair moved down on Friday and reached the support line 1.1086 presented in a white bold line. After that, the market began to move upwards, having tested the historical resistance line of 1.1128 presented in a blue dashed line. Strong Monday news is not expected today. We look forward to a continuation of work up.

Trend analysis (Fig. 1).

The price may move up on Monday with the first target of 1.1146 which is a retracement level of 38.2% presented in a blue dotted line. Upon reaching this line, the next goal will be a pullback level of 50.0% which is equivalent to 1.1164 presented in a blue dashed line.

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Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

An upward trend is possible today.

An unlikely scenario is from the level of 1.1108 (closing of the Friday afternoon candle), the price will go down to the rollback level of 61.8% which is at 1.1081 presented in a red dotted line.

The material has been provided by InstaForex Company - www.instaforex.com