FX.co ★ Indicator analysis: Daily review of EUR/USD on March 8, 2023

Trend analysis (Fig. 1).

The euro-dollar pair may move downward from the level of 1.0548 (closing of yesterday's daily candle) to 1.0515, the 50.0% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.0577, the historical resistance level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - down;
• Fibonacci levels - down;
• Volumes - down;
• Candlestick analysis - down;
• Trend analysis - down;
• Bollinger bands - down;
• Weekly chart - down.

General conclusion:

Today, the price may move downward from the level of 1.0548 (closing of yesterday's daily candle) to 1.0515, the 50.0% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of 1.0577, the historical resistance level (blue dotted line).

Alternatively, the price may move downward from the level of 1.0548 (closing of yesterday's daily candle) to 1.0482, the lower limit of the Bollinger Band indicator (black dotted line). Upon reaching this level, the price may move up with the target of 1.0605, the 14.6% pullback level (red dotted line).