FX.co ★ Indicator analysis. Daily review on the EUR/USD currency pair for December 3, 2020

Trend analysis (Fig. 1).

Today, from the level of 1.2115 (closing of yesterday's daily candlestick), the market can continue to move upward with the target of 1.2262 - the target level of 161.8% (blue dotted line). When testing this level, it is possible to work downward with the target of 1.2167 - a pullback level of 14.6% (red dotted line).

Figure 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

From the level of 1.2115 (closing of yesterday's daily candlestick), the market can continue to move upward with the target of 1.2262 - the target level of 161.8% (blue dotted line) today. When testing this level, it is possible to work downward with the target of 1.2167 - a pullback level of 14.6% (red dotted line).

Alternative scenario: from the pullback level of 76.4%, 1.2101 (yellow dotted line), the price may start moving downward with the target of 1.2072 – the historical support level (blue dotted line). After testing this line, it is possible to work downward with the next target of 1.2011, which is a pullback level of 38.2% (red dotted line).