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

Trend analysis (Fig. 1).

Today, the downward trend is likely to continue from the level of 1.0861 - a 50% pullback level (presented in a blue dashed line) with a target at the lower fractal 1.0768 (presented in a red dashed line). Upon reaching this level, the price may continue to move downward with the target at the next lower fractal 1.0728 (presented in a red dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - neutral;

- Bollinger Lines - down;

- Weekly schedule - down.

General conclusion:

Today, the price may continue to move downward with the target at the lower fractal 1.0728 (presented in a red dashed line).

Another possible scenario is a bullish trend from the level of 1.0829 - a 38.2% retracement level (presented in a blue dashed line) with a target at 1.0892 - a 61.8% retracement level (presented in a blue dashed line).

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