empty
 
 
01.03.2021 04:56 AM
Forecast for EUR/USD on March 1, 2021

EUR/USD

The euro fell by 99 points last Friday, broke through the support of the MACD line, but the Marlin oscillator only touched the border of the downward trend area and now a correction is taking place.

This image is no longer relevant

The downward momentum is set strong, we are waiting for the price to move to the 1.1870-1.1915 target range. From the specified range, we expect a correction of the order of one figure, afterwards it could fall again (1.1760). The nearest target, however, is 1.2023, but in order to reach it, it is necessary to overcome Friday's low, as shown on the four-hour chart.

This image is no longer relevant

The trend is completely downward on the four-hour chart, while the Marlin signal line is slightly to the upside, showing the current correction.

So, we are waiting for the price to surpass the signal level of 1.2062.

Laurie Bailey,
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