FX.co ★ EUR/USD. Technical Analysis on October 23, 2025

Trend Analysis (Fig. 1)On Thursday, the market may continue moving down from the 1.1609 level (the closing price of yesterday's daily candle) toward the target of 1.1556 – a historical support level (blue dotted line). When testing this level, the price may rebound upward toward 1.1576 – the lower fractal (daily candle of October 22, 2025).

Fig. 1 (Daily Chart)

Comprehensive Analysis:

• Indicator analysis – downward
• Fibonacci levels – downward
• Volumes – downward
• Candlestick analysis – downward
• Trend analysis – downward
• Bollinger Bands – downward
• Weekly chart – downward

Overall conclusion: downward trend.

Alternative Scenario

On Thursday, the market may continue moving down from the 1.1609 level (the closing price of yesterday's daily candle) toward the 1.1593 level – the 61.8% retracement level (blue dotted line). Upon testing this level, the price may rebound upward toward 1.1609 – a historical resistance level (light blue dotted line).