FX.co ★ Indicator analysis: Daily review on EUR / USD for February 4, 2020

Trend analysis (Fig. 1).

An upward movement is possible today with the first goal of 1.1098, the upper fractal in a red dashed line. Upon reaching this level, there is a continuation of work upward with the goal of 1.1117, the pullback level of 50.0% presented in a blue dashed line.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly schedule - up.

General conclusion:

An upward movement is expected today with the first target 1.1098, the upper fractal in a red dashed line.

An unlikely but possible scenario is from a retracement level of 38.2% equivalent to 1.1058, presented in a red dashed line, the price will go down to 1.1033, the retracement level of 61.8% presented in a red dashed line.