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Indicator Analysis. Daily review for the EUR/USD currency pair 03/18/21

Trend Analysis (Fig. 1).

Today, the market may start moving down from the level of 1.1979 (the closing of yesterday's daily candle) with the target of 1.1954 at the historical support level (blue dotted line). After testing this level, the price will continue to move up with the target of 1.2018 – 21 simple average (black dotted line). When testing this line, it will continue to move up with the target of 1.2075 at the historical resistance level (blue dotted line).

analytics6052f8d79174f.jpg

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis – up

- Fibonacci Levels – up

- Volumes – up

- Candle Analysis – up

- Trend Analysis – up

- Bollinger Bands – up

- Weekly Chart – up

General Conclusion:

Today, the market from the level of 1.1954 at the historical support level (blue dotted line) may start moving up with the target of 1.2018-21 simple average (black dotted line). When testing this line, it will continue to move up with the target of 1.2075 at the historical resistance level (blue dotted line).

Unlikely scenario: from the level of 1.1979 (the closing of yesterday's daily candle), it may start moving down with the target of 1.1931 – a pullback level of 38.2% (blue dotted line).

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