empty
 
 
06.03.2019 09:13 AM
Forecast for EUR/USD on March 6, 2019

On Tuesday, the euro fell by 31 points, at the moment it reached the level of 1.1290 - the low on January 24, where it met moderate support. On the four-hour chart, the leading indicator Marlin does not give signals for a reversal (deep correction), so we are waiting for the intermediate support to be overcome today and the euro will continue to decline towards the target of 1.1215.

But the main scenario described has a fundamental resistance. Tomorrow, the ECB will announce its monetary policy decision, and investors can postpone active actions. From this point of view, the technical range of 1.1270-1.1309, determined on December 14 and a low on January 3, can be transformed into a consolidation zone, or more precisely, a sideways trend.

This image is no longer relevant
This image is no longer relevant

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