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18.01.202310:15 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on January 18, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0787 (closing of yesterday's daily candle) to 1.0770, the 8-period EMA (thin blue line). When testing this level, an upward movement is possible to 1.0861, the historical resistance level (blue dotted line).

Exchange Rates 18.01.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0787 (closing of yesterday's daily candle) to 1.0770, the 8-period EMA (thin blue line). When testing this level, an upward movement is possible to 1.0861, the historical resistance level (blue dotted line).

Alternatively, the price may move downward from the level of 1.0787 (closing of yesterday's daily candle) to 1.0724, the 38.2% retracement level (red dotted line). When testing this level, an upward movement is possible to 1.0861, the historical resistance level (blue dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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