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23.08.202310:08 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on August 23, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from 1.0844 (closing of yesterday's daily candle) to the target level at 1.0897, the 14.6% pullback level (blue dotted line). Upon reaching this level, a downward movement is possible to 1.0880, the 61.8% pullback level (red dotted line).

Exchange Rates 23.08.2023 analysis

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 upward from 1.0844 (closing of yesterday's daily candle) to the target level at 1.0897, the 14.6% pullback level (blue dotted line). Upon reaching this level, a downward movement is possible to 1.0880, the 61.8% pullback level (red dotted line).

Alternatively, the price may move upward from 1.0844 (closing of yesterday's daily candle) to the target level at 1.0880, the 61.8% pullback level (red dotted line). Upon reaching this level, a downward movement is possible to the lower fractal at 1.0833 (blue dotted line).

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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