Indicator analysis: Daily review of EUR/USD on June 22, 2022

ECB's Dovish Shift: Markets Anticipate Softer Policy Guidance

Relevance up to 09:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from 1.0533 (close of yesterday's daily candle) to the target of 1.0479, the 50% retracement level (red dotted line). After testing this level, the price may move upward with the target of 1.0573, the 50% retracement level (yellow dotted line). Upon reaching this level, upward movement may continue.

 

Exchange Rates 22.06.2022 analysis

 

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today the price may move downward from 1.0533 (close of yesterday's daily candle) to the target of 1.0479, the 50% retracement level (red dotted line). After testing this level, the price may move upward with the target of 1.0573, the 50% retracement level (yellow dotted line). Upon reaching this level, upward movement may continue.

Alternative scenario: from the level of 1.0533 (close of yesterday's daily candle), the price may move down with the target of 1.0479, the 50% retracement level (red dotted line). After testing this level, continued downward movement is possible to the historical support level 1.0464 (blue dotted line). Upon reaching this level, the price may move up.

 

Read more: https://www.instaforex.eu/forex_analysis/314165

ECB's Dovish Shift: Markets Anticipate Softer Policy Guidance

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