20.03.202409:05 Forex Analysis & Reviews: Indicator Analysis of EUR/USD on March 20, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0864 (closing of yesterday's daily candle) to 1.0883, the 8-period EMA (blue thin line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0909 resistance level (white thick line).

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: Today, the price may move upward from the level of 1.0864 (closing of yesterday's daily candle) to 1.0883, the 8-period EMA (blue thin line). In the case of testing this level, a continued upward movement is possible with a target at the 1.0909 resistance level (white thick line).

Alternatively, from the level of 1.0864 (closing of yesterday's daily candle), the price may move upward to 1.0883, the 8-period EMA (blue thin line). In the case of testing this level, a downward movement is possible with a target at the 1.0839 support level (blue thick line).