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FX.co ★ Indicator analysis of EUR/USD for March 7, 2022

Indicator analysis of EUR/USD for March 7, 2022

Trend analysis (Fig. 1).

The market may move down on Monday from the level of 1.0931 (close of Friday's daily candle) to the target level of 1.0821, the support line (thick red line). After testing this level, the price may move upward to the target level of 1.0918, the 14.6% retracement level (blue dotted line). In case of testing this level, the upward movement may continue to the target level of 1.0977, the 23.6% retracement level (blue dotted line).

Indicator analysis of EUR/USD for March 7, 2022

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 1.0931 (close of Friday's daily candle) to the target level of 1.0821, the support line (thick red line). After testing this level, the price may move upward to the target level of 1.0918, the 14.6% retracement level (blue dotted line). In case of testing this level, the upward movement may continue to the target level of 1.0977, the 23.6% retracement level (blue dotted line).

Alternative scenario: from the level of 1.0931 (close of Friday's daily candle), the price may continue to move down to the target level of 1.0821, the support line (thick red line). After testing this level, the price may move upward to the target level of 1.0918, the 14.6% retracement level (blue dotted line). In case of testing this level, the price may move up to the target level of 1.0931, the lower fractal (blue dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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