07.03.202309:32 Forex Analysis & Reviews: EUR/USD analysis for March 07, 2023 - Potential for the downside movement

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Technical analysis:

EUR/USD has been trading sideways at the resistance Fibonacci confluence zone 1.0690.

Due to the strong resistance zone in the background and the downside cycle, I see potential for the further downside movement.

Downside objectives are set at the price of 1.0580 and 1.0545

Stochastic and MACD oscillators are still showing upside reading but watch for potential bear cross to confirm further downside direction...

Key resistance is set at the price of 1.0700-1.0730

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