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FX.co ★ Indicator analysis. Daily review for the EUR/USD pair on May 13, 2021

Indicator analysis. Daily review for the EUR/USD pair on May 13, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2070 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). After testing this level, the continuation of work upward is possible, with the target of 1.2166 - the price level of 161.8% (blue dashed line).

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Indicator analysis. Daily review for the EUR/USD pair on May 13, 2021

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the market from the level of 1.2070 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). After testing this level, the continuation of work upward is possible, with the target of 1.2166 - the price level of 161.8% (blue dashed line).

Unlikely scenario: from the level of 1.2070 (closing of yesterday's daily candlestick), it may start moving upwards with the target of 1.2102 - the 76.4% retracement level (yellow dashed line). Upon reaching this level, work downwards may continue with the target of 1.2051 - the support line of the ascending channel (blue bold line). After testing this line, work upward may continue with the target of 1.2102 - the 76.4% retracement level (yellow dashed line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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