16.11.202110:00 Forex Analysis & Reviews: Indicator analysis. Daily review of EUR/USD on November 16, 2021

Trend analysis (Fig. 1)

The price rising from the level of 1.1367 (closing of yesterday's daily candle) will try to reach the level of 1.1437 – the pullback level of 14.6% (yellow dotted line) today. After that, it will most likely continue to increase to the target of 1.1486 – the pullback level of 23.6% (yellow dotted line).

Figure 1 (daily chart)

Comprehensive analysis:

• Indicator analysis - up
• Fibonacci levels - up
• Volumes - up
• Candlestick analysis - up
• Trend analysis - up
• Bollinger lines - up
• Weekly chart - up

General conclusion:

Today, the price moving up from the level of 1.1367 (closing of yesterday's daily candle) will try to reach the level of 1.1437 – the pullback level of 14.6% (yellow dotted line). After that, the upward trend will most likely resume to the target of 1.1486 – the pullback level of 23.6% (yellow dotted line).

Alternatively, the price from the level of 1.1367 (closing of yesterday's daily candle) will attempt to further rise to the target of 1.1305 – the historical support level (blue dotted line). After testing this level, the price can start rising to the target of 1.1387 – the historical resistance level (blue dashed line).