Indicator analysis: Daily review on EUR / USD for January 9, 2020

Trend analysis (Fig. 1).

On Thursday, after testing the support line of the upward trend 1.1104 presented in a white bold line, the price may begin to move up with the first target of 1.1133, the 21 average EMA presented in a black thin line. If this level is achieved, the next goal 1.1166 is the historical resistance level presented in a blue dashed line.


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 on Thursday.

A possible unlikely scenario is from 1.1104, the support line presented in a white bold line, the price goes down to a retreat level of 61.8% which is at 1.1081 presented in a red dashed line.

The material has been provided by InstaForex Company -