empty
 
 
20.03.2023 10:05 AM
Indicator analysis: Daily review of EUR/USD on March 20, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0666 (closing of Friday's daily candle) to 1.0713, the 38.2% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.0746, the 61.8% pullback level (blue dotted line).

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0666 (closing of Friday's daily candle) to 1.0713, the 38.2% pullback level (red dotted line). When testing this level, a continued upward movement is possible with the target of 1.0746, the 61.8% pullback level (blue dotted line).

Alternatively, the price may move upward from the level of 1.0666 (closing of Friday's daily candle) to 1.0713, the 38.2% pullback level (red dotted line). When testing this level, the price may move downward with the target of 1.0679, the 23.6% pullback level (yellow dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In October we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback