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05.02.202108:31 Forex Analysis & Reviews: Indicator analysis. Daily review for the EUR/USD currency pair on February 5, 2021

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Trend analysis (Fig. 1).

On Friday, the market from the level of 1.1963 (closing of yesterday's daily candle), while moving down, will try to reach the support line of 1.1883 (white thin line). In the case of testing this line, it is possible to work upwards with the target of 1.1948 - the historical resistance level (blue dotted line).

Figure 1 (Daily Chart).

Comprehensive analysis:

Indicator analysis - down
Fibonacci levels - down
Volumes - down
Candlestick analysis - down
Trend analysis - down
Bollinger bands - down
Weekly chart - down

General conclusion:

Today, the price from the level of 1.1963 (closing of yesterday's daily candle), while moving down, will try to reach the support line of 1.1883 (white thin line). In the case of testing this line, it is possible to work upwards with the target of 1.1948 - the historical resistance level (blue dotted line).

Alternative scenario: when the price moves down and tests the support line 1.1883 (white thin line), it is possible to continue moving downward with the target of 1.1811 - the historical support level (blue dotted line).

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