31.01.202009:45 Forex-elemzések és áttekintések: Indicator analysis: Daily review on EUR/USD for January 31, 2020

On Wednesday, after testing the support line of the downward channel 1.0995, presented in a red bold line, the pair continued to move upward on Thursday. Strong calendar news for the euro is expected today at 10:00 UTC. The continuation of the upward movement is possible.

Trend analysis (Fig. 1).

An upward movement is possible today with the first target of 1.1051, the retracement level of 23.6% presented in a blue dashed line. Upon reaching this level, the continuation of work upward is with the goal of 1.1068, the resistance line of the downward channel in a red bold line.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

An upward movement is expected today with the first target of 1.1051, the pullback level of 23.6% presented in a blue dashed line.

An unlikely but possible scenario is from the level of 1.1026, the price goes down to the support line 1.0982, presented in a red bold line, and then work up.