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22.02.202310:20 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on February 22, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0646 (closing of yesterday's daily candle) to 1.0710, the 38.2% pullback level (red dotted line). Upon reaching this level, the price may continue to move up.

Exchange Rates 22.02.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0646 (closing of yesterday's daily candle) to 1.0710, the 38.2% pullback level (red dotted line). Upon reaching this level, the price may continue to move up.

Alternatively, the price may move downward from the level of 1.0646 (closing of yesterday's daily candle) to 1.0627, the 14.6% pullback level (red dotted line). Upon reaching this level, an upward movement is possible with the target of 1.0670, the 23.6% pullback level (red 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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