Indicator analysis. Daily review for the EUR/USD pair on May 28, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2194 (closing of yesterday's daily candlestick) will move downward and try to reach the support line - 1.2185 (blue bold line). After testing this line, it is possible to move upward with the target at 1.2234 - the historical resistance level (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 from the level of 1.2194 (closing of yesterday's daily candlestick) will move downward and try to reach the support line - 1.2185 (blue bold line). After testing this line, it is possible to move upward with the target at 1.2234 - the historical resistance level (blue dashed line).

Unlikely scenario: the price from the level of 1.2194 (closing of yesterday's daily candlestick) will move downward and try to reach the retracement level of 23.6% - 1.2133 (red dotted line). After testing this level, it is possible to move upward, with the target at 1.2185 - the resistance line (blue bold line).

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

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