22.07.202410:10 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on July 22, 2024

Relevance up to 03:00 2024-07-23 UTC--4

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Trend Analysis (Fig. 1)

On Monday, EUR/USD may continue the downward movement from the 1.0882 level (the close of Friday's daily candle) with a target of 1.0863 – the 13 EMA (yellow thin line). Upon reaching this line, the price may rise with the target of the retracement level of 23.6% at 1.0881 (red dotted line).

Fig. 1 (daily chart)

Comprehensive Analysis:

Indicator Analysis – Down
Fibonacci Levels – Down
Volumes – Down
Candlestick Analysis – Down
Trend Analysis – Up
Bollinger Bands – Down
Weekly Chart – Down

General Conclusion:

Today, EUR/USD may continue the downward movement from the 1.0882 level (the close of Friday's daily candle) with a target of 1.0863 – the 13 EMA (yellow thin line). Upon reaching this line, an upward movement is possible with the target of the retracement level of 23.6% at 1.0881 (red dotted line).

Alternative Scenario: The price could start rising from the 1.0882 level (the close of Friday's daily candle) with a target of 1.0906 – the 14.6% retracement level (red dotted line).

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