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

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 0.9824 (close of yesterday's daily candle) to 0.9875, the 50.0% retracement level (white dotted line). When testing this level, continued upward movement is possible to 0.9950, the 61.8% retracement level (white dotted line). From this level, the price may move downward with the target of 0.9863, the 21-period EMA (black thin 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 the level of 0.9824 (close of yesterday's daily candle) to 0.9875, the 50.0% retracement level (white dotted line). When testing this level, continued upward movement is possible to 0.9950, the 61.8% retracement level (white dotted line). From this level, the price may move downward with the target of 0.9863, the 21-period EMA (black thin line).

Alternatively, the price may move upward from the level of 0.9824 (close of yesterday's daily candle) to the target of 0.9875, the 50.0% retracement level (white dotted line). When testing this level, the price may move downward to 0.9807, the 14.6% retracement level (red dotted line). In the case of testing this level, an upward movement is possible.