FX.co ★ Indicator analysis. Daily review on EUR / USD for July 23, 2020

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.1557 (closing of yesterday's daily candle) with the target at 1.1596 - a 50% pullback level (blue dotted line). There is a possibility that the price may roll back down from this level.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

Today the price may continue to move upward from the level of 1.1572 (closing of yesterday's daily candle) with the target of 1.1596 - a 50.0% pullback level (blue dashed line). There is a possibility that the price may roll back down from this level, with the next target at 1.1539 - a 14.6% pullback level (red dotted line).

Another possible scenario is a continuous upward trend after testing 1.1596 - a 50.0% pullback level (blue dashed line) with the target of 1.1823 - a 61.8% retracement level (blue dashed line).