FX.co ★ Indicator analysis: Daily review of EUR/USD on September 27, 2022

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 0.9603 (close of yesterday's daily candle) to 0.9503, the 208.0% Fibonacci retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9646, the 14.6% retracement level (white dotted line). From this level, the price may continue to move upward with the target of 0.9705, the 23.6% retracement level (white dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from the level of 0.9603 (close of yesterday's daily candle) to 0.9503, the 208.0% Fibonacci retracement level (red dotted line). When testing this level, an upward movement is possible to 0.9646, the 14.6% retracement level (white dotted line). From this level, the price may continue to move upward with the target of 0.9705, the 23.6% retracement level (white dotted line).

Alternative scenario: from the level of 0.9603 (close of yesterday's daily candle), the price may move downward with the target at 0.9323, the 261.8% Fibonacci retracement level (red dotted line). When testing this level, an upward movement is possible to the lower fractal at 0.9553 (white dotted line). When testing this level, the price may move up.