Indicator analysis. Daily review of the EUR/USD currency pair for March 9, 2021

Trend analysis (Fig. 1).

Today, from the level of 1.1846 (closing of yesterday's daily candlestick), the market will try to start moving up with the target of 1.1954 - the historical resistance level (blue dotted line). After this level is tested, the price may continue to work up with the target of 1.2075 – the next 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 – down;
  • Bollinger bands – up;
  • Weekly chart – down.

General conclusion:

Today, from the level of 1.1846 (closing of yesterday's daily candlestick), the price will try to start moving up with the target of 1.1954 – the historical resistance level (blue dotted line). After this level is tested, the price may continue to work up with the target of 1.2075 - the historical resistance level (blue dotted line).

Alternative scenario: from the level of 1.846 (closing of yesterday's daily candlestick), the price will try to make a downward movement with the target of 1.1811 – the historical support level (blue dotted line). After this level is tested, the price may continue to work downwards with the target of 1.1778 – the 76.4% retracement level (red dotted line).

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

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