Indicator Analysis. Daily review for the EUR/USD currency pair 01/11/21

Trend Analysis (Figure 1).

Today, the market will go down from the level of 1.2217 (closing of Friday's daily candle) and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may continue to go down with a target of 1.2063 at the pullback level of 38.2% (red dotted line).

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Figure 1 (daily chart).

Comprehensive Analysis:

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

General Conclusion:

Today, the market will go down from the level of 1.2217 (closing of Friday's daily candle) and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may continue to go down with a target of 1.2063 at the pullback level of 38.2% (red dotted line).

Alternative scenario: from the level of 1.2217 (closing of Friday's daily candle), it will go down and can test the pullback level of 23.6% at 1.2172 (red dotted line). If this level is tested, the price may start going up with a target of 1.2234 at the historical resistance level (blue dotted line).

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