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23.03.2023 09:55 AM
Indicator analysis: Daily review of EUR/USD on March 23, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move upward from the level of 1.0858 (closing of yesterday's daily candle) to 1.0910, the 76.4% pullback level (red dotted line). From this level, the price may continue to move up with the target at 1.0939, the historical resistance level (blue dotted line).

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Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price may move upward from the level of 1.0858 (closing of yesterday's daily candle) to 1.0910, the 76.4% pullback level (red dotted line). From this level, the price may continue to move up with the target at 1.0939, the historical resistance level (blue dotted line).

Alternatively, the price may move upward from the level of 1.0858 (closing of yesterday's daily candle) to 1.0910, the 76.4% pullback level (red dotted line). From this level, a downward movement is possible to 1.0854, the 14.6% pullback level (yellow dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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