Indicator analysis. Daily review on EUR / USD for August 21, 2020

Trend analysis (Fig. 1).

The market may begin to move upward from the level of 1.1862 (closing of yesterday's daily candle) with the target at the upper fractal 1.1967 (red dotted line). From this level, the upward trend may continue with the next target of 1.2102 - a 76.4% pullback level (blue dotted line).

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Figure: 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today the price may move upwards with the target at the upper fractal 1.1967 (red dotted line). From this level, the upward trend may continue with the next target of 1.2102 - a 76.4% pullback level (blue dotted line).

Another possible scenario is an upward movement to the historical resistance level of 1.1912 (blue dotted line), In case of testing this level, the price may move downward to the lower fractal 1.1803. A breakdown of this level may prompt further downward movement with the next target at 1.1779 - a 23.6% pullback level (red dashed line).

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