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FX.co ★ Indicator analysis. Daily review of EUR/USD for September 29, 2021

Indicator analysis. Daily review of EUR/USD for September 29, 2021

The pair moved down on Tuesday, tested 1.1663 - the lower fractal (red dotted line), then rolled back up, closing the daily candle at 1.1682. Today, the market may move up. News is expected at 14:00, 14:30, 15:45 UTC (dollar), and at 15:45, 16:30 UTC (euro).

Trend analysis (Fig. 1).

The market may move downward from the level of 1.1682 (closing of yesterday's daily candle) with the target at 1.1663 - the lower fractal (red dotted line). When testing this level, the price may move upward with the target at 1.1703 - the 14.6% retracement level (yellow dashed line). Much will depend on the news that comes out at 15:45 UTC.

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Indicator analysis. Daily review of EUR/USD for September 29, 2021

Fig. 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 price may move down from the level of 1.1682 (closing of yesterday's daily candle) with the target at 1.1663 - the lower fractal (red dotted line). When testing this level, the price may move upward with the target at 1.1703 - the 14.6% retracement level (yellow dashed line).

Alternative scenario: from the level of 1.1682 (closing of yesterday's daily candle), the price may move down with the target at 1.1663 - the lower fractal (yellow dashed line). When testing this level, the price may continue to move downward with the target at 1.1579 - the historical support level (blue 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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