FX.co ★ Indicator Analysis of EUR/USD on February 28, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move downward from the level of 1.0843 (closing of yesterday's daily candle) to 1.0822, the 8-period EMA (blue thin line). In the case of testing this level, an upward movement is possible with a target of 1.0864, the 38.2% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move downward from the level of 1.0843 (closing of yesterday's daily candle) to 1.0822, the 8-period EMA (blue thin line). In the case of testing this level, an upward movement is possible with a target of 1.0864, the 38.2% pullback level (red dotted line).

Alternatively, from the level of 1.0843 (closing of yesterday's daily candle), the price may move downwards to 1.0815, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible with a target of 1.0864, the 38.2% pullback level (red dotted line).