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Indicator analysis. Daily review on EUR/USD for April 16, 2020

Trend analysis (Fig. 1).

Today, the pair may continue trading downwards from the level of 1.0912 (closing of yesterday's candle) with the first target at 1.0857 - a 61.8% retracement level (presented in a blue dashed line). If this level is broken down, the price will continue to move downward with the target of 1.0822 - a 76.4% retracement level (presented in a blue dashed line).

analytics5e97f84c77db3.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly schedule - up.

General conclusion:

Today, the price will continue trading downward with the target of 1.0822 - a 76.4% retracement level (presented in a blue dashed line).

A bullish reversal is also possible today from a pullback level of 61.8% - 1.0857 (red dashed line) with a target at 1.0893 - a 61.8% retracement level (presented in a red dashed line).

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