FX.co ★ Indicator analysis of EUR/USD for March 2, 2022

Trend analysis (Fig. 1).

The market may move down on Wednesday from the level of 1.1122 (close of yesterday's daily candle) to the target level of 1.1082, the historical support level (blue dotted line). After testing this level, the price may start moving up to the target level of 1.1146, the 14.6% retracement level (blue dotted line).

Fig. 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:

The price may move down from the level of 1.1122 (close of yesterday's daily candle) to the target level of 1.1082, the historical support level (blue dotted line). After testing this level, the price may start moving up to the target level of 1.1146, the 14.6% retracement level (blue dotted line). From this level, the price may continue to move up.

Alternative scenario: from the level of 1.1122 (close of yesterday's daily candle), the price may move down to the target level of 1.1082, the historical support level (blue dotted line). After testing this level, the price may continue to move downward to the target level of 1.1024, the support line (thick red line). When testing this level, the price may move upward to the target level of 1.1146, the 14.6% retracement level (blue dotted line).