03.03.202121:41 Forex Analysis & Reviews: Short-term technical analysis on EURUSD

EURUSD bounced from 1.1991 to 1.2112 but bulls were unable to hold price above 1.21. Price has almost retraced 50% of the decline from 1.2242. Short-term support remains at recent lows of 1.1991 and as long as price is above this level there are hopes for a bigger bounce towards 1.2150.

Exchange Rates 03.03.2021 analysis

Bulls need to break price above the 1.2112 level for a move towards the major Fibonacci resistance at 1.2150. Recapturing 1.2150 is key for the continuation of the bounce. Failure to defend 1.1990 will open the way for a move below 1.1950 maybe towards 1.17.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Alexandros Yfantis,
分析专家
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