Indicator Analysis. Daily review for the EUR/USD currency pair 11/09/20

Trend analysis (Fig. 1).

Today, the market may continue to move upwards from the level of 1.1872 (closing of the Friday's daily candle) in order to reach the upper border of the Bollinger line indicator at 1.1943 (black dashed line). If this line will be tested, the upward movement will most likely continue with the target of 1.2004 - the target level of 161.8% (blue dashed 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 Lines - up
  • Weekly Chart - up

General Conclusion:

Today, the price may move upwards in order to reach the upper border of the Bollinger line indicator at 1.1943 (black dotted line). If this line will be tested, the upward movement will most likely continue with the target of 1.2004 - the target level of 161.8% (blue dashed line).

Unlikely scenario: from the level of 1.1872 (closing of the Friday's daily candle) - work down with the target of 1.1848 - a retracement level of 14.6% (red bold line). In case of testing this line, the continuation of the downward movement with the target of 1.1780 - the retracement level of 23.6% (red dotted line).

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