20.05.202209:18 Forex Analysis & Reviews: EUR/USD: indicator analysis for May 20, 2022

Trend analysis (Fig. 1).

On Friday, the price may fall from the level of 1.0582 (the close of yesterday's daily candlestick) to the 23.6% retracement level of 1.0546 (yellow dotted line). After the pair has tested this mark, the upward move may extend to the target of 1.0607, in line with the upper fractal (red dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- indicator analysis - down

- Fibonacci levels - down

- volumes - down

- candlestick analysis - down

- trend analysis - up

- Bollinger bands - up

- weekly chart - up

Final thoughts:

Today, the price may fall from the level of 1.0582 (the close of yesterday's daily candlestick) to the 23.6% retracement level of 1.0546 (yellow dotted line). After the pair has tested this mark, the upward move may extend to the target of 1.0607, in line with the upper fractal (red dotted line).

Alternative scenario: the price may go down from the level of 1.0582 (the close of yesterday's daily candlestick) to the 38.2% retracement level of 1.0507 (yellow dotted line). After testing this mark, the quote may show growth to the target of 1.0607, in line with the upper fractal (red dotted line).