Indicator analysis. Daily review of the EUR/USD pair for July 19, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1805 (closing of last Friday's daily candlestick) may start moving upward with the target at 1.1843 - the retracement level of 14.6% (blue dotted line). Once this level is tested, the upward movement may continue with the target at 1.1888 - the 23.6% retracement 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 - down;
  • Weekly chart - up.

General conclusion:

Today, the price from the level of 1.1805 (closing of last Friday's daily candlestick) may start moving upward with the target at 1.1843 - the retracement level of 14.6% (blue dotted line). Once this level is tested, the upward movement may continue with the target at 1.1888 - the 23.6% retracement level (blue dashed line).

Alternative scenario: the price from the level of 1.1805 (closing of last Friday's daily candlestick) may continue to move downward with the target at 1.1772 - the lower fractal (blue dashed line). When this level is tested, it is possible to move upward with the target at 1.1811 - the historical resistance level (blue dashed line).

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

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