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01.03.2024 09:04 AM
Indicator Analysis of EUR/USD on March 1, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0803 (closing of yesterday's daily candle) to 1.0836, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0864, the 38.2% pullback level (red dotted line).

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Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – up;
  • Fibonacci levels – 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 1.0803 (closing of yesterday's daily candle) to 1.0836, the historical resistance level (blue dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0864, the 38.2% pullback level (red dotted line).

Alternatively, from the level of 1.0803 (closing of yesterday's daily candle), the price may move upward to 1.0836, the historical resistance level (blue dotted line). In the case of testing this level, a downward movement is possible with a target of 1.0814, the 61.8% pullback level (blue dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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