FX.co ★ Indicator Analysis of EUR/USD on March 7, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move downward from the level of 1.0897 (closing of yesterday's daily candle) to 1.0883, the 14.6% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible to 1.0917, the 50% 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 1.0897 (closing of yesterday's daily candle) to 1.0883, the 14.6% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible to 1.0917, the 50% pullback level (red dotted line).

Alternatively, from the level of 1.0897 (closing of yesterday's daily candle), the price may move downwards to 1.0874, the 5-period EMA (red thin line). Upon reaching this level, an upward movement is possible to 1.0917, the 50% pullback level (red dotted line).