04.03.202409:39 Forex Analysis & Reviews: Indicator Analysis of EUR/USD on March 4, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move upward from the level of 1.0838 (closing of Friday's daily candlestick) to 1.0864, the 38.2% pullback level (red dotted line). In the case of testing this level, a downward movement is possible to 1.0842, the 76.4% pullback level (blue dotted 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.

Today, the price may move upward from the level of 1.0838 (closing of Friday's daily candlestick) to 1.0864, the 38.2% pullback level (red dotted line). In the case of testing this level, a downward movement is possible to 1.0842, the 76.4% pullback level (blue dotted line).

Alternatively, from the level of 1.0838 (closing of Friday's daily candlestick), the price may move upward to 1.0864, the 38.2% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible to the upper fractal at 1.0888 (blue dotted line).