06.03.202409:16 Forex Analysis & Reviews: Indicator Analysis of EUR/USD on March 6, 2024

Trend analysis (Fig. 1).

The EUR/USD currency pair may move downward from the level of 1.0855 (closing of yesterday's daily candle) to 1.0842, the 76.4% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0888 (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis – up;
• Fibonacci levels – up;
• Volumes – up;
• Candlestick analysis – down;
• Trend analysis – up;
• Bollinger bands – up;
• Weekly chart - up.

General conclusion: today, the price may move downward from the level of 1.0855 (closing of yesterday's daily candle) to 1.0842, the 76.4% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0888 (blue dotted line).

Alternatively, from the level of 1.0855 (closing of yesterday's daily candle), the price may move downward to 1.0826, the 21-period EMA (black thin line). In the case of testing this level, an upward movement is possible to the upper fractal at 1.0888 (blue dotted line).