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28.10.202009:03 Forex Analysis & Reviews: Indicator analysis. Daily review on EUR/USD for October 28, 2020

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Trend analysis (Figure 1)

Today, from the level of 1.1786 (closing of yesterday's daily candlestick), the market may continue to move down with the goal of 1.1756 - the support line (white bold line). If this line is tested, further upward work is possible with the goal of 1.1807, which is the 50% pullback level (blue dotted line). From this level, it is possible to work upward.

Figure 1 (Daily Chart)

Comprehensive analysis:

Indicator analysis - down
Fibonacci levels - down
Volumes - down
Technical analysis - down
Trend analysis - down
Bollinger Bands - down
Weekly Chart - down

General conclusion:

Today, the price may continue to move down with the target of 1.1756 - the support line (white bold line). If this line is tested, further upward work is possible with the goal of 1.1807, which is the 50% pullback level (blue dotted line). From this level, it is possible to work upward.

Unlikely scenario: upon moving down and reaching the support line 1.1756 (white bold line), the price may start moving down to 1.1715 (red dotted line), which is the 61.8% pullback level.

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