FX.co ★ Indicator analysis: Daily review of EUR/USD on August 3, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0165 (close of yesterday's daily candle) to the target of 1.0203, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0281, the 50.0% retracement level (red dotted line). Upon reaching this level, the price may move down.

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 may move upward from the level of 1.0165 (close of yesterday's daily candle) to the target of 1.0203, the 38.2% retracement level (red dotted line). After testing this level, the price may continue to move upward with the target of 1.0281, the 50.0% retracement level (red dotted line). Upon reaching this level, the price may move down.

Alternative scenario: from the level of 1.0165 (close of yesterday's daily candle), the price may move upward with the target of 1.0203, the 38.2% retracement level (red dotted line). After testing this level, a downward movement is possible with the target of 1.0114, the 50.0% retracement level (blue dotted line). Upon reaching this level, the price may move up.