FX.co ★ Indicator analysis: Daily review of EUR/USD on May 18, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move down from the level of 1.0547 (close of yesterday's daily candle) with the target of 1.0481, the 38.2% retracement level (yellow dotted line). After testing this level, the price may move upward with the target of 1.0572, the 76.4% retracement level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move down from the level of 1.0547 (close of yesterday's daily candle) with the target of 1.0481, the 38.2% retracement level (yellow dotted line). After testing this level, the price may move upward with the target of 1.0572, the 76.4% retracement level (red dotted line).

Alternative scenario: from the level of 1.0547 (close of yesterday's daily candle), the price may move down with the target of 1.0513, the 23.6% retracement level (yellow dotted line). After testing this level, the price may move up with the target of 1.0572, the 76.4% retracement level (red dotted line).