08.11.202109:14 Forex Analysis & Reviews: Indicator analysis. EUR/USD on November 8, 2021

Trend analysis (Fig. 1).

On Monday the market from Friday's daily candlestick closing level of 1.1568 may continue upward movement with the target 1.1615, a pullback level of 23.6% (yellow dashed line). If this level is tested, the move upwards with a target of 1.1671 will be the 38.2% pullback level (yellow dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- Candlestick pattern- up;

- trend analysis - up;

- Bollinger Bands - up;

- weekly chart - up.

Conclusion:

Today the price from Friday's daily candle closing level of 1.1568 may continue upward movement with the target 1.1615, a pullback level of 23.6% (yellow dotted line). If this level is tested, the upper work with the target 1.1671 the pullback level will be 38.2% (yellow dashed line).

Unlikely scenario: the price from the closing level of Friday's daily candle 1.1568 may continue to move downwards with the target 1.1523, lower fractal (yellow dotted line). If this level is tested, upper movement is possible with the target 1.1580, a pullback level of 14.6% (yellow dashed line). If this line is reached, there will be a continuation of upper movement.