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Indicator analysis. Daily review of EUR/USD on March 16, 2020

Trend analysis (Fig. 1).

Today, the market will try, for the third time, to overcome the rollback level of 61.8% - 1.1053 (blue dotted line), but, according to the author, it is unlikely to succeed. An upward movement is possible from this line with the target of 1.1198, a retracement level of 23.6% (red dashed line).

analytics5e6f1ea2f0e80.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, from a retracement level of 61.8% - 1.1053 (blue dashed line) the price may most likely begin to move up with the first target of 1.1198, a retracement level of 23.6% (red dashed line). Upon reaching this line, the continuation of upward movement is possible with the target at the upper fractal of 1.1222 (blue dashed line).

An unlikely scenario: from a retracement level of 61.8% - 1.1053 (blue dashed line), work down with the target of 1.0948, a retracement level of 76.4% (blue dashed line).

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