FX.co ★ Indicator analysis of EUR/USD for March 17, 2022

Trend analysis (Fig. 1).

The market may move up on Thursday from the level of 1.1030 (close of yesterday's daily candle) to the target level of 1.1069, the 76.4% retracement level (yellow dotted line). In case of testing this level, the price may continue to move up to test 1.1088, the 85.4% retracement level (yellow dotted line). Upon reaching this level, the price may roll back down to the target level of 1.1028, the 13 EMA (yellow thin 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 market may move up from the level of 1.1030 (close of yesterday's daily candle) to the target level of 1.1069, the 76.4% retracement level (yellow dotted line). In case of testing this level, the price may continue to move upwards to test 1.1088, the 85.4% retracement level (yellow dotted line). Upon reaching this level, the price may roll back down to the target level of 1.1028, the 13 EMA (yellow thin line).

Alternative scenario: from the level of 1.1030 (close of yesterday's daily candle), the price ay move up to the target level of 1.1069, the 76.4% retracement level (yellow dotted line). Upon reaching this level, the price may roll back down to the target level of 1.1000, the 8 EMA (blue thin line).