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10.02.202309:45 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on February 10, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0737 (closing of yesterday's daily candle) to the 1.0717 support level (thick blue line). When testing this level, an upward movement is possible with the target of 1.0930, the 38.2% pullback level (red dotted line).

Exchange Rates 10.02.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis - down;
  • Fibonacci levels - down;
  • 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 1.0737 (closing of yesterday's daily candle) to the 1.0717 support level (thick blue line). When testing this level, an upward movement is possible with the target of 1.0930, the 38.2% pullback level (red dotted line).

Alternatively, the price may move downward from the level of 1.0737 (closing of yesterday's daily candle) to 1.0669, the lower fractal (red dotted line). When testing this level, an upward movement is possible with the target of 1.0746, the 61.8% pullback level (blue dotted line).

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

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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