FX.co ★ Indicator analysis. Daily review of EUR/USD on January 19, 2021

Trend analysis (Fig. 1).

The price from the level of 1.1326 (closing of yesterday's daily candle) is likely to start rising to the target of 1.1354 – the pullback level of 23.6% (yellow dotted line) today. Once this level is tested, it may further rise to the target of 1.1378 – the pullback level of 23.6% (yellow dotted line).

Fig 1 (daily chart)

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.1326 (closing of yesterday's daily candle) may begin its growth to the target of 1.1354 – the pullback level of 23.6% (yellow dotted line). After testing it, the upward movement may continue to the target of 1.1378 – the pullback level of 23.6% (yellow dotted line).

Alternatively, the price from the level of 1.1326 (closing of yesterday's daily candle) may continue to decline to the target of 1.1299 – the pullback level of 61.8% (red dotted line). After testing this level, it may now move up to the target of 1.1339 – the pullback level of 14.6% (yellow dotted line).