Indicator analysis. Daily review for the EUR/USD currency pair 11/12/2020

Trend analysis (Fig. 1).

Today, from the level of 1.2137 (the closing of yesterday's daily candle), the market will try to continue moving up with the target of the resistance level at 1.2174 (blue bold line). If this level is tested, it is possible to continue working up to the target of 1.2274 which is a pullback level of 85.4% (yellow dotted line).

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Figure 1 (daily chart).

Complex analysis:

  • Indicator Analysis – up
  • Fibonacci Levels – up
  • Volumes – up
  • Technical Analysis – down
  • Trend Analysis – up
  • Bollinger Bands – up
  • Weekly Chart – up

General conclusion:

Today, from the level of 1.2137 (the closing of yesterday's daily candle), the price will try to continue moving up with the target of 1.2174 which is the resistance level (blue bold line). If this level is tested, it is possible to continue working up to the target of 1.2274 which is a pullback level of 85.4% (yellow dotted line).

Alternative scenario: After moving up and testing the resistance level at 1.2174 (blue bold line), work down with the goal of 1.2093 which is a pullback level of 14.6% (red dotted line).

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