08.10.202111:13 Forex Analysis & Reviews: Indicator analysis. Daily review of EUR/USD for October 8, 2021

The pair moved down on Thursday, closing the daily candle at 1.1551. Today, the market may roll back up. News is expected at 11:10 UTC (euro) and 12:30 UTC (dollar).

Trend analysis (Fig. 1).

The market may move down from the level of 1.1551 (closing of yesterday's daily candle) to reach the lower fractal - 1.1529 (yellow dashed line). After testing this level, the price may move up with the target at 1.1584 - the retracement level of 14.6% (yellow dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

Today, the price may move down from the level of 1.1551 (closing of yesterday's daily candle) to reach the lower fractal - 1.1529 (yellow dashed line). After testing this level, the price may move up with the target at 1.1584 - the retracement level of 14.6% (yellow dashed line). Much will depend on the news that comes out at 12:30 UTC.

Alternative scenario: from the level of 1.1551 (closing of yesterday's daily candle), the price may start moving down with the target at 1.1512 - the 161.8% target level (red dotted line). After testing this level, the price may move up to the lower fractal - 1.1529 (yellow dashed line).