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21.08.201911:26 Forex Analysis & Reviews: Indicator analysis. Daily review for EUR/USD pair as of August 21, 2019

Long-term review

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On Tuesday, the pair made an upward movement after testing the support line of 1.1067 (blue bold line), almost testing the pullback level of 23.6% – 1.1110 (yellow dotted line). On Wednesday, it is possible to continue the upward movement. Strong calendar news expected at 15:00 London time, 15:30 London time, and 19.00 London time (dollar).

Trend analysis (Fig. 1).

On Wednesday, we expect an upward movement, with the target of 1.1108 – the upper fractal.

Fig. 1 (daily chart).

Complex analysis:

- Indicator analysis – down;

- Fibonacci levels – up;

- Volumes – up;

- Candle analysis – up;

- Trend analysis – up;

- Bollinger bands – down;

- Weekly schedule - up.

General conclusion:

On Wednesday, we expect an upward movement, with the target of 1.1108 – the upper fractal.

Unlikely scenario: a downward movement with the target of 1.1065 – support line (blue bold line).

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