empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

26.03.202312:45 Forex Analysis & Reviews: Technical analysis on EURUSD for week ending March 24th, 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 26.03.2023 analysis

Black line- neckline support

Red line- support trend line

EURUSD made new higher highs last week above 1.09 but bulls failed to hold their gains as price turned lower towards 1.0760. As we mentioned in previous posts, the key support area was around the neckline support of 1.055-1.06. Bulls have managed to hold above it and produce a strong bounce to new highs. The Head and shoulders pattern was not activated as price continues to respect the neckline support. We also keep a close eye on the upward sloping support trend line providing support around 1.0585. Failure to stay above the red trend line would be a bearish sign. Making higher highs and higher lows is key for the continuation of the up trend.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off