Indicator analysis. Daily review of EUR/USD for October 1, 2021

The pair moved down on Thursday and closed the daily candle at 1.1576. Today, the market may roll back up. News is expected at 07:55, 09:00 UTC (euro), and 14:00 UTC (dollar).

Trend analysis (Fig. 1).

The market may move upward from the level of 1.1576 (closing of yesterday's daily candle) with the target of 1.1613 - the 14.6% retracement level (yellow dashed line). After testing this level, the upward movement may continue with the target of 1.1644 - the 23.6% retracement level (yellow dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.1576 (closing of yesterday's daily candle) with the target of 1.1613 - the 14.6% retracement level (yellow dashed line). After testing this level, the upward movement may continue with the target of 1.1644 - the 23.6% retracement level (yellow dashed line).

Alternative scenario: from the level of 1.1576 (closing of yesterday's daily candle), the price may move down to 1.1512 - the 161.8% target level (red dashed line). After testing this level, the price may move up to 1.1562 - the lower fractal (yellow dashed line).

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX