Indicator analysis. Daily review on EUR/USD on November 5, 2020

Trend analysis (Fig. 1).

Today, the market from the level of 1.1726 (closing of yesterday's daily candlestick) may continue to move up with the goal of 1.1751 – a pullback level of 50.0% (blue dotted line). When testing this level, further work upward with the goal of 1.1781 – a pullback level of 61.8% (blue dotted line).

Figure 1 (Daily chart).

Comprehensive analysis:

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

General conclusion:

The market from the level of 1.1726 (closing yesterday's daily candlestick) can continue to move up with the goal of 1.1751 - a pullback level of 50.0% (blue dotted line) today. When testing this level, further work upward with the goal of 1.1781 – a rollback level of 61.8% (blue dotted line).

Unlikely scenario: from the level of 1.1726 (closing of yesterday's daily candlestick), the price may continue to move up with the goal of 1.1751 – a pullback level of 50.0% (blue dotted line). When testing this level, further work downward with the goal of 1.1714 – a pullback level of 61.8% (red dotted line).

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