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06.01.202008:56 Forex Analysis & Reviews: Indicator analysis: Daily review on EUR / USD on January 6, 2020

Long-term review

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Trend analysis (Fig. 1).

On Monday, the price may continue to move down with the first target of 1.1126 which is the lower fractal. If this level is reached, the upward movement can resume with the first goal of 1.1166 the historical resistance level presented in a blue dashed line.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - down;

- Weekly schedule - up.

General conclusion:

Monday is a downward trend.

An unlikely scenario is possible, where, from 1.1162 (closing of the Friday afternoon candle), the price will go up to the pullback level of 61.8% which is at 1.1209 presented in a blue dotted line.

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