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02.10.202310:03 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on October 2, 2023

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Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0570 (closing of Friday's daily candle) with a target of 1.0603, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0659, the 21-period EMA (black thin line).

Exchange Rates 02.10.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – up;
  • Volumes – up;
  • Candlestick analysis – up;
  • Trend analysis – up;
  • Bollinger bands – down;
  • Weekly chart – up.

Today, the price may move upward from the level of 1.0570 (closing of Friday's daily candle) with a target of 1.0603, the 14.6% pullback level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0659, the 21-period EMA (black thin line).

Alternatively, the price may move upward from the level of 1.0570 (closing of Friday's daily candle) with a target of 1.0603, the 14.6% pullback level (blue dotted line). In the case of testing this level, a downward movement is possible with a target of 1.0588, the 8-period EMA (blue thin line).

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

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