FX.co ★ Indicator analysis: EUR/USD daily review on March 3, 2023

Trend analysis (Fig. 1)

EUR/USD may start moving upwards, starting from the level of 1.0596 (closing of Thursday's daily candle) towards the 23.6% retracement level at 1.0650 (red dotted line). Upon testing the level, it will continue going up to the 38.2% retracement level at 1.0723 (red dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - downtrend

Weekly chart - uptrend

Conclusion: EUR/USD will rise from 1.0596 (closing of Thursday's daily candle) to the 23.6% retracement level at 1.0650 (red dotted line), and then head towards the 38.2% retracement level at 1.0723 (red dotted line).

Alternatively, the pair could climb up from 1.0596 (closing of Thursday's daily candle) to the 23.6% retracement level at 1.0650 (red dotted line), and then bounce down the 8 EMA at 1.0618 (blue thin line).