Indicator analysis. Daily review on EUR / USD for April 24, 2020

Trend analysis (Fig. 1).

Today, the bearish trend may continue from the level of 1.0779 (closing of yesterday's candle) with the first target at 1.0711 - an 85.4% retracement level (presented in a blue dashed line). When this level is broken down, the price may continue to move downward with the target at the support line 1.0700 (presented in a red bold line).

analytics5ea27be16332a.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly schedule - down.

General conclusion:

Today, the price may continue to move downward with the target at the support line 1.0700 (presented in a red bold line). A rollback is possible from this line, but this scenario is possible only with negative news for the dollar.

Another possible scenario is a bearish trend from the support line 1.0700 (presented in a red bold line) with the target at the lower fractal 1.0636 (presented in a blue dashed line), but this scenario is possible only with positive news for the dollar.

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