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04.01.202410:08 Forex Analysis & Reviews: EUR/USD Indicator Analysis on January 4, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward and test 1.0947, the 76.4% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible with a target at 1.0973, the 85.4% pullback level (red dotted line).

Exchange Rates 04.01.2024 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – up;
  • Volumes – up;
  • Candlestick analysis – up;
  • Trend analysis – down;
  • Bollinger bands – down;
  • Daily chart – up.

General conclusion: Today, the price may move upward from the level of 1.0921 (closing of yesterday's daily candle) to test 1.0947, the 76.4% pullback level (red dotted line). Upon testing this level, a continued upward movement is possible with a target at 1.0973, the 85.4% pullback level (red dotted line).

Alternatively, the price may move upward from the level of 1.0921 (closing of yesterday's daily candle) to 1.0947, the 76.4% pullback level (red dotted line). Upon testing this level, a downward movement is possible with a target at 1.0904, the 61.8% pullback level (red dotted line).

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Stefan Doll,
Analytical expert of InstaSpot
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