Indicator analysis. Daily review on EUR / USD for April 8, 2020

After breaking through the support line 1.0791 (red bold line), the pair went on an upward pullback movement. Upon moving up, the price tested the pullback level of 38.2% (red dashed line). Today, the market may continue to move up. Strong calendar news for the dollar is expected at 14:30 and 18:00 UTC.

Trend analysis (Fig. 1).

Today, from the pullback level of 23.6% - 1.0858 (red dashed line), the pair may continue to move up with the target of 1.0913 - the pullback level of 38.2% (red dashed line). If this level is reached, the upward work will continue with the target of 1.0958 - a pullback level of 50.0% (red dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move up with the target at 1.0958 - a pullback level of 50.0% (red dashed line).

An unlikely scenario: from a pullback level of 50.0% - 1.0893 (blue dashed line), work down with the target at the support line 1.0784 (red bold line).

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