FX.co ★ Indicator analysis: Daily review of EUR/USD on July 4, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from 1.0426 (close of Friday's daily candle) to the target of 1.0460, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0490, the 50.0% retracement level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move upward from 1.0426 (close of Friday's daily candle) to the target of 1.0460, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0490, the 50.0% retracement level (red dotted line).

Alternative scenario: from the level of 1.0426 (close of Friday's daily candle), the price may move upward with the target of 1.0460, the 38.2% retracement level (red dotted line). After testing this level, a downward movement is possible to the support level 1.0365 (thick blue line).