20.05.202008:14 Forex Analysis & Reviews: Indicator analysis. Daily review on EUR / USD for May 20, 2020

The pair traded upward on Tuesday and almost tested 1.0983 - an 85.4% pullback level (presented in a blue dotted line) and after that, it went 52 points downwards. Today, the price may continue to move up. Economic calendar news for the euro is expected at 09:00 UTC, and for the dollar at 14:30 and 18:00 UTC.

Trend analysis (Fig. 1).

Today, the upward trend is likely to continue from the level of 1.0925 (closing of yesterday's candle) with the target of 1.0983 - an 85.4% retracement level (presented in a blue dashed line). From this level, the price may continue to move upward with the target at the upper fractal 1.1020 (presented in a blue dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move upward with the target of 1.0983 - an 85.4% pullback level (presented in a blue dashed line).

Another possible scenario is a downward trend from 1.0983 - an 85.4% pullback level (presented in a blue dashed line) with the target of 1.0928 - a 23.6% pullback level (presented in a red dashed line).