01.02.202309:48 Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on February 1, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0862 (closing of yesterday's daily candle) to 1.0930, the historical resistance level (blue dotted line). Upon reaching this level, the price may continue to move up.

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 1.0862 (closing of yesterday's daily candle) to 1.0930, the historical resistance level (blue dotted line). Upon reaching this level, the price may continue to move up.

Alternatively, the price may move downward from the level of 1.0862 (closing of yesterday's daily candle) to 1.0822, the 23.6% retracement level (red dotted line). Upon reaching this level, an upward movement is possible with the target at 1.0930, the historical resistance level (blue dotted line).