Support & Resistance

Indicator analysis: Daily review of EUR/USD on October 25, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9873 (close of yesterday’s daily candle) to 0.9840, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9913, the 76.4% retracement level (blue dotted line). From this level, the price may continue to move up with the target of 0.9945, the 85.4% retracement level (blue dotted line).

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Fig. 1 (daily chart).

Comprehensive analysis:

  • indicator analysis – up;
  • Fibonacci levels – up;
  • volumes – up;
  • candlestick analysis – up;
  • trend analysis – up;
  • Bollinger bands – up;
  • weekly chart – up.

General conclusion:

Today, the price may move downward from the level of 0.9873 (close of yesterday’s daily candle) to 0.9840, the 14.6% retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9913, the 76.4% retracement level (blue dotted line). From this level, the price may continue to move up with the target of 0.9945, the 85.4% retracement level (blue dotted line).

Alternatively, the price may move downward from the level of 0.9873 (close of yesterday’s daily candle) to 0.9817, the 23.6% retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9913, the 74.6% retracement level (red dotted line). From this level, further upward movement is possible.

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


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