FX.co ★ Indicator analysis: Daily review of EUR/USD on May 24, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move down from the level of 1.0689 (close of yesterday's daily candle) to 1.0646, the 14.6% retracement level (yellow dotted line). When testing this level, the price may move upward to the upper fractal 1.0697 (yellow dotted line). From this level, the upward movement may continue.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move down from the level of 1.0689 (close of yesterday's daily candle) to 1.0646, the 14.6% retracement level (yellow dotted line). When testing this level, the price may move upward to the upper fractal 1.0697 (yellow dotted line). From this level, the upward movement may continue.

Alternative scenario: from the level of 1.0689 (close of yesterday's daily candle), the price may move downward to 1.0615, the 23.6% retracement level (yellow dotted line). When testing this level, the price may move up to the upper fractal 1.0697 (yellow dotted line).