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18.09.2023 09:20 AM
Indicator analysis: Daily review of EUR/USD on September 18, 2023

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0656 (closing of Friday's daily candle) with a target of 1.0707, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0725, the 14.6% pullback level (blue dotted line).

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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.

General conclusion: Today, the price may move upward from the level of 1.0656 (closing of Friday's daily candle) with a target of 1.0707, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0725, the 14.6% pullback level (blue dotted line).

Alternatively, the price may move upward from the level of 1.0656 (closing of Friday's daily candle) with a target of 1.0707, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible with a target of 1.0695, the 8-period EMA (blue thin line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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