24.07.202409:39 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on July 24, 2024

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Trend Analysis (Fig. 1)

Today, the market may continue the downward movement from the 1.0853 level (the close of yesterday's daily candle) with a target at 1.0840 – the 38.2% retracement level (red dotted line). Upon testing this level, the price may begin to rise with a target at 1.0881 – the 38.2% retracement level (red dotted line).

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, EUR/USD may continue the downward movement from the 1.0853 (the close of yesterday's daily candle) with a target at 1.0840 – the 38.2% retracement level (red dotted line). Upon testing this level, the price may begin to rise with a target at 1.0881 – the 38.2% retracement level (red dotted line).

Alternative Scenario: The price may continue the downward movement from the level of 1.0853 (the close of yesterday's daily candle) with a target at 1.0825 – the 21-day simple moving average (black dotted line). Upon testing this line, the price may bounce upward with a target at 1.0881 – the 38.2% retracement level (red dotted line).

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