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01.08.202410:31 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on August 1, 2024

Trend Analysis (Fig. 1)

Today, EUR/USD may continue to fall from 1.0824 (the close of yesterday's daily candle) with a target of 1.0807 – the 50% pullback level (red dashed line). Upon reaching this level, the price may start rising with a target of 1.0845 – the record resistance level (blue dashed line).

Exchange Rates 01.08.2024 analysis

Fig. 1 (daily chart)

Comprehensive analysis:

  • Indicator analysis – Down
  • Fibonacci levels – Down
  • Volumes – Down
  • Candlestick analysis – Down
  • Trend analysis – Down
  • Bollinger Bands – Down
  • Weekly chart – Down

General Conclusion:

Today, EUR/USD may continue to fall from 1.0824 (the close of yesterday's daily candle) with a target of 1.0807 – the 50% pullback level (red dashed line). Upon reaching this level, the price may start rising with a target of 1.0845 – the record resistance level (blue dashed line).

Alternative scenario: On Thursday, the pair may continue to fall from 1.0824 (the close of yesterday's daily candle) with a target of 1.0798 – the lower fractal (daily candle from July 30, 2024). Upon reaching this level, the price may start rising with a target of 1.0845 – the record resistance level (blue dashed line).

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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