20.01.202209:06 Forex Analysis & Reviews: Indicator analysis of EUR/USD for January 20, 2022

Trend analysis (Fig. 1)

On Thursday, the price will attempt to test the 38.2% retracement level of 1.1378 (yellow dotted line), while moving up from 1.1341 (closing price of yesterday's daily candlestick). If the quote touches this mark, the upward movement may continue. The target is seen at the 38.2% retracement level of 1.1398 (yellow dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- indicator analysis - uptrend

- Fibonacci analysis - uptrend

- volume analysis - uptrend

- candlestick analysis - uptrend

- trend analysis - uptrend

- Bollinger bands analysis - downtrend

- weekly chart analysis - uptrend

Summary:

On Thursday, the price will attempt to test the 38.2% retracement level of 1.1378 (yellow dotted line), while moving up from 1.1341 (closing price of yesterday's daily candlestick). If the quote reaches this point, the upward movement may continue. The target is seen at the 38.2% retracement level of 1.1398 (yellow dotted line).

Alternatively, the price may try to test the 8-day EMA at 1.1364 (blue thin line), rising from 1.1341 (closing price of yesterday's daily candlestick). It may then go down to the support level of 1.1321 (blue thick line) and ascend from it.