Indicator analysis. Daily review for EUR/USD pair on May 1, 2020

Trend analysis (Fig. 1).

On Friday, the market from the level of 1.0955 (yesterday's closing of candlestick), may continue to rise with the goal of 1.0993 - the upper fractal (presented in blue dashed line). However, breaking up this level is unlikely.

Breaking away from this level down, will lead us to a pullback work down with the goal of 1.0938 – the pullback level of 14.6% (red dotted line). There is a high probability that when this level is broken down, the downward movement will continue with the goal of 1.0916 – the pullback level of 23.6% (red dotted line).


Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger Lines - up;

- weekly schedule - up.

General conclusion:

Today, the price will try to continue its upward movement with the goal of 1.0993 - the upper fractal (blue dashed line).

An unlikely scenario: working up with the target of 1.1032 - the upper border of the Bollinger line indicator (purple dashed line) from level 1.0993 - the upper fractal (blue dashed line).

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