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30.06.2022 10:12 AM
Indicator analysis: Daily review of EUR/USD on June 30, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0440 (close of yesterday's daily candle) to test 1.0476, the 23.6% retracement level (red dotted line). Upon reaching this level, the price may continue to move upward to 1.0502, the 38.2% retracement level (red dotted line). From this level, the price may roll back down.

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Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – up;
  • Volumes – up;
  • Candlestick analysis – down;
  • Trend analysis – down;
  • Bollinger bands – down;
  • Weekly chart – down.

General conclusion:

Today, the price may move upward from the level of 1.0440 (close of yesterday's daily candle) to test 1.0476, the 23.6% retracement level (red dotted line). Upon reaching this level, the price may continue to move upward to 1.0502, the 38.2% retracement level (red dotted line). From this level, the price may roll back down.

Alternative scenario: from the level of 1.0440 (close of yesterday's daily candle), the price may move up to test the historical resistance level 1.0464 (blue dotted line). Upon reaching this level, a downward movement is possible to the lower fractal 1.0433 (red dotted line). When testing this level, the price may move up to 1.0459, the 14.6% retracement level (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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