FX.co ★ Indicator analysis of EUR/USD for March 4, 2022

Trend analysis (Fig. 1).

The market may move down on Friday from the level of 1.1065 (close of yesterday's daily candle) to reach the support level of 1.1010 (red thick line). After testing this level, the price may move upward to the target level of 1.1079, the 14.6% retracement level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger bands - up;

- Weekly chart - down.

General conclusion:

The price may move down from the level of 1.1065 (close of yesterday's daily candle) to reach the support level of 1.1010 (red thick line). After testing this level, the price may move upward to the target level of 1.1079, the 14.6% retracement level (blue dotted line).

Alternative scenario: from the level of 1.1065 (close of yesterday's daily candle), the price may continue to move down to 1.0898, the 161.8% Fibonacci level (red dotted line). After testing this level, the price may move up.