empty
31.05.2023 09:22 AM
Indicator analysis of EUR/USD on May 31, 2023

Trend-following analysis (picture 1)

On Wednesday, EUR/USD could retrace from 1.0733 (the level when yesterday's intraday candlestick closed) downward with the target at 1.0672, the lower fractal plotted by the red dotted line. Once this level is reached, traders could enter the market with long positions with the upward target at 1.0734, the 14.6% Fibonacci correction plotted by the red dotted line.

This image is no longer relevant

Picture 1: daily chart

Complex analysis

Indicator analysis – down

Fibonacci levels – down

Trading volumes – down

Trend-following analysis – down

Bollinger bands – down

Weekly chart – down

Conclusion

On Wednesday, EUR/USD could retrace from 1.0733 (the level of closing yesterday's intraday candlestick) downward with the target at 1.0672, the lower fractal plotted by the red dotted line. Once this level is reached, traders could enter the market with long positions with the upward target at 1.0734, the 14.6% Fibonacci correction plotted by the red dotted line.

Alternative scenario. From 1.0733 (the level of closing yesterday's daily candlestick), the instrument could retrace downward with the target at 1.0652 which is the 76.4% Fibonacci correction plotted by the yellow dotted line. After this level is hit, traders could continue with their long positions with the upward target at 1.0734 which is a 14.6% Fibonacci correction plotted by the red dotted line.

Stefan Doll,
ইন্সটাফরেক্সের বিশ্লেষণ বিশেষজ্ঞ
© 2007-2025
টাইমফ্রেম নির্বাচন করুন
5
মিনিট
15
মিনিট
30
মিনিট
1
ঘন্টা
4
ঘন্টা
1
দিন
1
সপ্তাহ
ইনস্টাফরেক্স দিয়ে ক্রিপ্টোমুদ্রা দর পরিবর্তনে আয় করুন।
মেটাট্রেডার 4 ডাউনলোড করে আপনার প্রথম ট্রেড চালু করুন।
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    প্রতিযোগীতায় অংশগ্রহণ করুন

সুপারিশকৃত নিবন্ধ

এখন কথা বলতে পারবেন না?
আপনার প্রশ্ন জিজ্ঞাসা করুন চ্যাট.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.