09.12.202210:00 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on December 9, 2022

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Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0553 (closing of yesterday's daily candle) to the upper fractal at 1.0614 (yellow dotted line). When testing this level, a downward pullback is possible.

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 the level of 1.0553 (closing of yesterday's daily candle) to the upper fractal at 1.0614 (yellow dotted line). When testing this level, a downward pullback is possible.

Alternatively, the price may move upward from the level of 1.0553 (closing of yesterday's daily candle) to 1.0598, the historical resistance level (blue dotted line). Upon reaching this level, a downward pullback is possible to the 1.0497 support level (thick blue line).

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