FX.co ★ Indicator analysis. Daily review for the EUR/USD currency pair on January 4, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2216 (closing of last Thursday's daily candle), while moving up, can test the pullback level of 85.4% - 1.2274 (yellow dotted line). If this level is tested, the price may continue to move up, with an upper target of 1.2309 - the upper fractal (red dotted line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

Overall conclusion:

Today, the price from the level of 1.2216 (closing of last Thursday's daily candle), while moving up, can test the pullback level of 85.4% - 1.2274 (yellow dotted line). If this level is tested, the price may continue to move up, with an upper target of 1.2309 - the upper fractal (red dotted line).

Alternative scenario: the price from the level of 1.2216 (closing of last Thursday's daily candle), while moving down, can test the support level of 1.2177 (blue bold line) and then continue moving up, with the target of 1.2234 - the historical resistance level (blue dotted line).