24.05.202111:23 Forex Analysis & Reviews: Indicator analysis. Daily review for the EUR/USD pair on May 24, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2179 (closing of last Friday's daily candlestick) may continue to move upward with the target at 1.2245 - the upper fractal (red dotted line). If this level is tested, the price may continue to move upward with the target at 1.2274 - the 85.4% retracement level (yellow dashed line). Upon reaching this line, the uward work is possible with the target of 1.2289 - the upper border of the Bollinger line indicator (black dashed 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 from the level of 1.2179 (closing of last Friday's daily candlestick) may continue to move upward with the target at 1.2245 - the upper fractal (red dotted line). If this level is tested, the price may continue to move upward with the target at 1.2274 - the 85.4% retracement level (yellow dashed line). Upon reaching this line, the upward work is possible with the target of 1.2289 - the upper border of the Bollinger line indicator (black dashed line).

Alternative scenario: the price from the level of 1.2179 (closing of last Friday's daily candlestick) will continue to move down with the target at 1.2139 - the support line of the ascending channel (blue bold line). After testing this line, it is possible to work upwards with the target at 1.2245 - the upper fractal (red dotted line).