24.07.202008:28 Forex Analysis & Reviews: Indicator analysis. Daily review on EUR / USD for July 24, 2020

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Trend analysis (Fig. 1).

The market may roll back down from the level of 1.1598 (closing of yesterday's daily candle) with the target of 1.1560 - a 14.6% pullback level (red dotted line). Upon reaching this level, the downward trend may continue with the next target of 1.1519 - a 23.6% pullback level (red dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

Today the price may move downward with the target of 1.1560 - a 14.6% pullback level (red dotted line). Upon reaching this level, the downward trend may continue with the next target of 1.1519 - a 23.6% pullback level (red dashed line).

Another possible scenario is an upward movement after breaking through the resistance line 1.1599 (black bold line) with the next target at 1.1824 - a 61.8% pullback level (blue dashed line).

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