21.08.201911:26 Forex-elemzések és áttekintések: Indicator analysis. Daily review for EUR/USD pair as of August 21, 2019

On Tuesday, the pair made an upward movement after testing the support line of 1.1067 (blue bold line), almost testing the pullback level of 23.6% – 1.1110 (yellow dotted line). On Wednesday, it is possible to continue the upward movement. Strong calendar news expected at 15:00 London time, 15:30 London time, and 19.00 London time (dollar).

Trend analysis (Fig. 1).

On Wednesday, we expect an upward movement, with the target of 1.1108 – the upper fractal.

Fig. 1 (daily chart).

Complex analysis:

- Indicator analysis – down;

- Fibonacci levels – up;

- Volumes – up;

- Candle analysis – up;

- Trend analysis – up;

- Bollinger bands – down;

- Weekly schedule - up.

General conclusion:

On Wednesday, we expect an upward movement, with the target of 1.1108 – the upper fractal.

Unlikely scenario: a downward movement with the target of 1.1065 – support line (blue bold line).