FX.co - EUR/USD analysis for March 15, 2023 - Potential for the further drop

2023-03-15T07:11:43

Relevance until2023-03-16

Technical analysis:

EUR/USD analysis for March 15, 2023 - Potential for the further drop

EUR/USD has been trading sideways at the price of 1.0740 but I see strong resistance zone at 1.7020.

Due to the extreme condition on EUR and strong resistance zone, I see potential for the further drop towards lower references.

Downside objective is set at the price of 1.0580

Stochastic oscillator is showing extreme condiiton and fresh downside cross, which is another good sign for the further downside movement.

Key resistance is set at the price of 1.0750

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

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for March 15, 2023 - Potential for the further drop