FX.co ★ Indicator analysis: EUR/USD daily review on March 7, 2023

Trend analysis (Fig. 1)

EUR/USD will continue to move upwards on Tuesday, rising from the level of 1.0680 (closing of Monday's daily candle) towards the 38.2% retracement level at 1.0723 (red dotted line). Upon testing the level, it will go up to the 50.0% retracement level at 1.0783 (red dotted line), and then proceed to move downwards.

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 climb up from 1.0680 (closing of Monday's daily candle) to the 38.2% retracement level at 1.0723 (red dotted line), followed by a move towards the 50.0% retracement level at 1.0783 (red dotted line). A pullback will occur after the test of this level.

Alternatively, the pair could rise from 1.0680 (closing of Monday's daily candle) to the 38.2% retracement level at 1.0723 (red dotted line), and then bounce down to the 23.6% retracement level at 1.0680 (yellow dashed line).