Indicator analysis. Daily review of the EUR/USD currency pair for March 19, 2021

Trend analysis (Fig. 1).

Today, the market will move upward from the level of 1.1913 (closing of yesterday's daily candle) to try reaching the historical resistance level of 1.1954 (the blue dotted line). In case of testing this level, it is likely to work up with the target 1.1988 - the upper fractal (blue dotted line).

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Figure 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 will move upward from the level of 1.1913 (closing yesterday's daily candle) in order to reach the historical resistance level of 1.1954 (blue dotted line). In case of testing this level, it is likely to work up with the target 1.1988 - the upper fractal (blue dotted line).

Alternative scenario: the price will move down from the level of 1.1913 (the closing of yesterday's daily candle) and try to reach the 61.8% retracement level, which is 1.1887 (the red dotted line). If this level is tested, it is likely to continue working downwards with the target of 1.1858 – the 85.4% retracement level (blue dotted line).

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

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