Indicator Analysis. Daily review for EUR/USD 10/23/20

Trend Analysis (Fig. 1).

Today, the market may continue to move downward from the level of 1.1820 (closing of yesterday’s daily candle) with the target at 1.1780 – the retracement level of 38.2% (blue dotted line). In case of testing this level, there will be a work going down to the level of 1.1748 – the 50% retracement level (blue dashed line).

Figure: 1 (daily chart).

Comprehensive Analysis:

  • Indicator Analysis – down
  • Fibonacci Levels – down
  • Volumes – down
  • Candlestick Analysis – down
  • Trend Analysis – up
  • Bollinger Lines – down
  • Weekly Chart – up

General conclusion:

Today, the price from the level of 1.1820 (closing of yesterday’s daily candle) may continue to move downward with the target of 1.1780 – the retracement level of 38.2% (blue dashed line). In case of testing this level, there will be a work going down to the level of 1.1748 – the 50% retracement level (blue dashed line). Then top work is possible.

Alternative scenario: from the level of 1.1820 (closing of yesterday’s daily candle) may continue to move down with the target at 1.1780 – a retracement level of 38.2% (blue dashed line). In case of testing this level, there will be a work going up to the level of 1.1860 – the retracement level of 61.8% (red dashed line).

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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