Indicator analysis. Daily review on EUR / USD for August 10, 2020

Trend analysis (Fig. 1).

The market may continue to move downward from the level of 1.1790 (closing of Friday's daily candle) with the target at the support level of 1.1692 (black bold line). If this level is reached, the downward movement may continue with the next target of 1.1631 - a 38.2% pullback level (red dashed line).

analytics5f30ef0de1943.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

Today the price may move downward with the target at the support level of 1.1692 (black bold line). If this level is reached, the downward movement may continue with the next target of 1.1631 - a 38.2% pullback level (red dashed line).

Another possible scenario is upon reaching the support level 1.1692 (black bold line), the price may move upwards with the target of 1.1823 - a 61.8% pullback level (blue dotted line).

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