Indicator analysis. Daily forecast for EUR/USD pair, March 24, 2021

Trend analysis (pic. 1).

On Wednesday, from the level of 1.1848 (the closing of yesterday's daily candlestick) the pair is likely to try to reach the resistance level of 1.1923 (red bold line). If the pair breaks above this level, it may rise to the target of 1.1956-21, which is the EMA (black thin line).

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Pic. 1 (daily chart).

Complex analysis:

Indicator analysis- up

- Fibonacci levels – up;

- volumes – up;

- candlestick analysis – up;

- trend analysis-up;

- Bollinger bands – up;

-weekly chart- up

Conclusion:

Today, the price may start moving upwards to the target level of 1.1923 - the resistance line (red bold line). If it breaks above this level, it may advance to the target level of 1.1956-21, which is the EMA (black thin line).

Alternative scenario: from the level of 1.1923 (the closing of yesterday's daily candlestick), it will move downwards to the target level of 1.1811 – the historical support level (blue dotted line). Then it may test this level. If it occurs, the pair will move down to the 1.1778 retreatment level of 76.4% (red dotted line).

The material has been provided by InstaForex Company - www.instaforex.com

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