12.12.201911:09 Forex Analysis & Reviews: Indicator analysis: Daily review on December 12, 2019, on EUR/USD currency pair

Trend analysis (Fig. 1).

On Thursday, after retesting the pullback level of 50% which is equivalent to 1.1146 presented in a blue dashed line, the price may go down and the first lower target is the pullback level of 14.6% equivalent to 1.1122 presented in a red dashed line. If successful, the next lower target 1.1107 is a retracement level of 23.6% presented in a red dashed line. Much will depend on the news that comes out at 12:45 and 13:30 Universal time.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

On Thursday, after retesting the pullback level of 50% which is equivalent to 1.1146 presented in a blue dashed line, the price may go down and the first lower target is the pullback level of 14.6% equivalent to 1.1122 presented in a red dashed line. If successful, the next lower target 1.1107 is a retracement level of 23.6% presented in a red dashed line.

An unlikely scenario would be that the price goes up to the upper target 1.1165 which is the historical resistance level presented in a blue dashed line.