empty
 
 
21.03.2023 10:02 AM
Technical Analysis of EUR/USD for March 21, 2023

Technical Market Outlook:

The EUR/USD pair keeps moving up towards the last swing high located at 1.0760 and the recent local high was made at the level of 1.0731. The market is back above the 100 and 50 MA again and is currently consolidating in a narrow range around the last high. The intraday technical support is seen at the level of 1.0637 and the intraday technical resistance is located at 1.0749. In a case of a breakout to the upside above the level of 1.0760, the next target for bulls is seen at the level of 1.0805. The strong and positive momentum on the H4 time-frame chart support the short-term bullish outlook for EUR.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.07258

WR2 - 1.07006

WR1 - 1.06865

Weekly Pivot - 1.06754

WS1 - 1.06613

WS2 - 1.06502

WS3 - 1.06250

Trading Outlook:

Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle might had been terminated at the level of 1.1033 which is 50% Fibonacci retracement level. The EUR had made a new multi-decade low at the level of 0.9538, so as long as the USD is being bought all across the board, the down trend will continue towards the new lows.

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback