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FX.co ★ Indicator analysis: Daily review of EUR/USD on September 23, 2022

Indicator analysis: Daily review of EUR/USD on September 23, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 0.9834 (close of yesterday's daily candle) to 0.9900, the 23.6% retracement level (white dotted line). Upon reaching this level, continued upward movement is possible with the target of 0.9960, the 38.2% retracement level (white dotted line). When testing this level, the price may move down.

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Indicator analysis: Daily review of EUR/USD on September 23, 2022

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move upward from the level of 0.9834 (close of yesterday's daily candle) to 0.9900, the 23.6% retracement level (white dotted line). Upon reaching this level, continued upward movement is possible with the target of 0.9960, the 38.2% retracement level (white dotted line). When testing this level, the price may move down.

Alternative scenario: from the level of 0.9934 (close of yesterday's daily candle), the price may move downward to the historical support level 0.9708 (blue dotted line). Upon reaching this level, an upward movement is possible to test the lower fractal 0.9808 (white dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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