Official site of the most popular forex trading expert advisor...

Indicator analysis of EUR/USD for March 1, 2021

Trend analysis (Fig. 1).

The market may move up on Tuesday from the level of 1.1217 (close of yesterday's daily candle) to the target level of 1.1250, the 38.2% retracement level (blue dotted line). When testing this level, continued upward movement is possible to 1.1295, the 50.0% retracement level (blue dotted line).

analytics621dc37d444b0.jpg

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger bands - up;

- Weekly chart - up.

General conclusion:

The price may move up from the level of 1.1217 (close of yesterday's daily candle) to the target level of 1.1250, the 38.2% retracement level (blue dotted line). When testing this level, continued upward movement is possible to 1.1295, the 50.0% retracement level (blue dotted line).

Alternative scenario: from the level of 1.1217 (close of yesterday's daily candle), the price may move down to 1.1174, the 85.4% retracement level (red dotted line). When testing this level, further downward movement is possible to 1.1106, the lower fractal (daily candle from 02/24/2022). When testing this level, the price may start to move up to 1.1309, the 14.6% retracement level (blue dotted line).


Trading analysis offered by RobotFX and Flex EA.
Source

0 Comments