26.10.202010:05 Forex-elemzések és áttekintések: Indicator analysis. Daily review on EUR/USD for October 26, 2020

Trend analysis (Fig. 1)

Today, the market may start moving down from the level of 1.1860 (closing of Friday's daily candlestick) in order to reach the pullback level of 23.6% - 1.1817 (red dotted line). If this line is tested, there is a possibility that the downward movement will resume with the target of 1.1786-21 average EMA (black thin line).

Figure 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - down
• Fibonacci levels - down
• Volumes - down
• Technical analysis - down
• Trend analysis - down
• Bollinger bands - up
• Weekly chart - down

General conclusion:

Today, the price might make a downward movement in order to reach the pullback level of 23.6% - 1.1817 (red dotted line). If this line is tested, it is possible for the downward movement to continue with the target of 1.1786-21 average EMA (black thin line).

Unlikely scenario: from the level of 1.1860 (closing of the Friday day candle) - work down with the target of 1.1817, which is a pullback level of 23.6% (red dotted line). Upon testing this level, work up with the goal of 1.1880 upper fractal (red dotted line), from which the upper work is possible.