01.12.202308:53 Forex Analysis & Reviews: Indicator analysis: EUR/USD daily review on December 1, 2023

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Trend analysis (Fig. 1)

EUR/USD may start moving upward from the level of 1.0886 (closing of yesterday's daily candle) to the 14.6% retracement level of 1.0944 (yellow dashed line). Upon reaching this price, it may go further to higher price levels.

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Candlestick analysis - downtrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: EUR/USD will rise from the level of 1.0886 (closing of yesterday's daily candle) to the 14.6% retracement level of 1.0944 (yellow dashed line). After that, it may go further to higher price levels.

Alternatively, the pair may climb up from the level of 1.0886 (closing of yesterday's daily candle) to the 14.6% retracement level of 1.0944 (yellow dashed line), followed by a decline to the 50% retracement level of 1.0861 (blue dashed line)

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