FX.co ★ Indicator analysis of EUR/USD for March 9, 2022

Trend analysis (Fig. 1).

The market may move up on Wednesday from the level of 1.0896 (close of yesterday's daily candle) to the target level of 1.0965, the 23.6% retracement level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.1004, the 8 EMA (thin blue 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 up from the level of 1.0896 (close of yesterday's daily candle) to the target level of 1.0965, the 23.6% retracement level (blue dotted line). After testing this level, the price may continue to move up to the target level of 1.1004, the 8 EMA (thin blue line).

Alternative scenario: from the level of 1.0896 (close of yesterday's daily candle), the price may move up to the target level of 1.0965, the 23.6% retracement level (blue dotted line). After testing this level, the price may start moving down to the target level of 1.0897, the 161.8% Fibonacci level (red dotted line). In case of testing this level, the price may move up to the target level of 1.0965, the 23.6% retracement level (blue dotted line).