FX.co ★ Indicator analysis. EUR/USD daily outlook for March 11, 2022

Trend analysis (Figure 1).

On Friday the market from 1.0983 (yesterday's daily candlestick close) may continue to move upwards with the target to reach the pullback level of 38.2%, 1.1064 (blue dotted line). After testing this line, the continuation of the upper movement with the target of 1.1145 will lead to a pullback level of 50.0% (blue dotted line).

Figure 1 (daily chart).

Complex analysis:

• indicator analysis - up;
• Fibonacci levels - up;
• volumes - up;
• candlestick analysis - up;
• trend analysis - up;
• Bollinger bands - up;
• weekly chart - up.

Conclusion:

Today the price from 1.0983 (yesterday's daily candlestick close) may continue to move upwards with the target to reach the pullback level of 38.2%, 1.1064 (blue dotted line). After testing this line, the continuation of the upper movement with the target of 1.1145 will lead to the pullback level of 50.0% (blue dotted line).

Alternate scenario: the price from 1.0983 (yesterday's daily candlestick close) could continue to move downwards with the aim of reaching the pullback level of 50.0%, 1.0950 (yellow dashed line). After testing this level, a move upwards is possible.