empty
 
 
12.03.2020 09:12 AM
Indicator analysis. Daily review of EUR/USD on March 12, 2020

Trend analysis (Fig. 1).

Before the news today, the price may attempt to reach the historical resistance level of 1.1292 (blue dotted line), although it is unlikely to succeed. During the news, it may begin to move up with the first target at the resistance line of 1.1346 (white bold line). From this line, it is possible to continue its upward movement with the target of 1.1458, a retracement level of 38.2% (red dashed line). And after the news, the continuation of the upward movemnet is with the first goal at the lower fractal 1.1252.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may start to move up.

An unlikely scenario: from the historical resistance level of 1.1292 (blue dashed line), work down with the target of 1.1223, a retracement level of 38.2% (blue dashed 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 $8000 more!
    In March we raffle $8000 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