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27.03.2023 09:40 AM
Indicator analysis: Daily review of EUR/USD on March 27, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0760 (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 upward with the target of 1.0835, the 61.8% pullback level (red dotted line).

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Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move downward from the level of 1.0760 (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 upward with the target of 1.0835, the 61.8% pullback level (red dotted line).

Alternatively, the price may move downward from the level of 1.0760 (closing of Friday's daily candle) to 1.0706, the 21-day EMA (thin black line). When testing this level, an upward movement is possible with the target of 1.0835, the 61.8% pullback level (red dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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