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31.03.2023 09:45 AM
Indicator analysis: Daily review of EUR/USD on March 31, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move down from the level of 1.0904 (closing of yesterday's daily candle) to 1.0869, the 14.6% pullback level (yellow dotted line). When testing this level, the price may move up.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move down from the level of 1.0904 (closing of yesterday's daily candle) to 1.0869, the 14.6% pullback level (yellow dotted line). When testing this level, the price may move up.

Alternatively, the price may move down from the level of 1.0904 (closing of yesterday's daily candle) to 1.0832, the 23.6% pullback level (yellow dotted line). When testing this level, an upward movement is possible with the target of 1.0910, the 76.4% pullback level (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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