FX.co ★ Indicator analysis: Daily review of EUR/USD on July 6, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0263 (close of yesterday's daily candle) to 1.0289, the 14.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.0324, the 23.6% retracement level (red dotted line). From this level, a downward movement is possible.

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move upward from the level of 1.0263 (close of yesterday's daily candle) to 1.0289, the 14.6% retracement level (red dotted line). In case of testing this level, the price may continue to move upward with the target of 1.0324, the 23.6% retracement level (red dotted line). From this level, a downward movement is possible.

Alternative scenario: from the level of 1.0263 (close of yesterday's daily candle), the price may move upward with the target of 1.0289, the 14.6% retracement level (red dotted line). After testing this level, a downward movement is possible with the target of 1.0235, the lower fractal (red dotted line). Upon reaching this level, the price may move up.