Indicator analysis. Daily review for the EUR/USD currency pair on November 17, 2020

Trend analysis (Fig. 1).

Today, the market from the level of 1.1850 (closing of yesterday's daily candlestick) may continue to move upward with the goal of 1.1875, which is a 76.4% pullback level (blue dotted line). Upon testing this level, the price will continue to work upward with the target of 1.1920 - the upper fractal (red dotted line).

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Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger bands - up
  • Weekly chart - up

General conclusion:

Today, the price from the level of 1.1850 (closing yesterday's daily candlestick) can continue to move upward with the goal of 1.1875, which is a 76.4% pullback level (blue dotted line). Upon testing this level, the price will continue to work upward with the goal of 1.1920 - the upper fractal (red dotted line).

Unlikely scenario: when working upward, after reaching the 76.4% pullback level, which is 1.1875 (blue dotted line), the pair will work downward with the goal of 1.1798 - a pullback level of 38.2% (red dotted line).

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