Indicator analysis. Daily review on EUR / USD for April 29, 2020

The pair moved upward on Tuesday and tested the level of 1.0892 - a 50% pullback level (presented in a blue dotted line), then the market went down by 68 points. Today, the upward movement may continue. Economic calendar news for the dollar is expected at 12:30, 14:00, 14:30, 18:00, and 18:30 UTC.

Trend analysis (Fig. 1).

Today, the upward trend may continue from the level of 1.0824 - a 76.4% pullback level (presented in a red dashed line) with the first target of 1.0861 - a 50.0% pullback level (presented in a blue dashed line). When this level is broken upwards, the price may continue to move upward with the target of 1.0892 - a 61.8% retracement level (presented in a blue dashed line). The main news of the day comes out at 18:00 UTC, which is about the US interest rates. Also, the possibility of an upward trend is higher.

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Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly schedule - up.

General conclusion:

Today the price may continue to move upward with the target of 1.0892 - a 61.8% retracement level (presented in a blue dashed line).

Another possible scenario is a bearish trend from 1.0860 - a 50.0% pullback level (blue dashed line) with a target at the lower fractal 1.0728 (presented in a blue dashed line).

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