Indicator analysis. Daily review of EUR/USD on November 9, 2021

Trend analysis (Fig. 1)

The price from the level of 1.1586 (closing of yesterday's daily candle) will make an attempt to reach the level of 1.1615 – the pullback level of 23.6% (yellow dotted line) while rising today. After that, it may further rise to the target of 1.1671 – the pullback level of 38.2% (yellow dotted line).

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Figure 1 (daily chart)

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger lines - down
  • Weekly chart - up

General conclusion:

Today, the price from the level of 1.1586 (closing of yesterday's daily candle) will make an attempt to reach the level of 1.1615 – the pullback level of 23.6% (yellow dotted line) while going upwards. After that, the upward movement may continue to the target of 1.1671 – the pullback level of 38.2% (yellow dotted line).

Alternatively, the price from the level of 1.1586 (closing of yesterday's daily candle) can continue its growth to the target of 1.1615 – the pullback level of 23.6% (yellow dotted line). After testing this line, it can start declining to the target of 1.1552 - the support line (blue bold line).

The material has been provided by InstaForex Company - www.instaforex.com

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