FX.co ★ Indicator analysis. Daily review of the EUR/USD pair for July 21, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.1779 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1755 - the lower fractal (blue dotted line). When this level is tested, it is possible to move upwards with the target at 1.1830 - the 14.6% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.1779 (closing of yesterday's daily candlestick) will try to continue moving down with the target at 1.1755 - the lower fractal (blue dotted line). When this level is tested, it is possible to move upwards with the target at 1.1830 - the 14.6% retracement level (blue dashed line).

Alternative scenario: from the level of 1.1779 (closing of yesterday's daily candlestick), it will try to continue moving down with the target at 1.1755 - the lower fractal (blue dashed line). When this level is tested, the downward movement may extend to the level of 1.1704 - the lower fractal (red dotted line). From this level, it is likely to start moving upward.