empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

16.03.202300:59 Forex Analysis & Reviews: Technical analysis of EUR/USD for March 15, 2023

Exchange Rates 16.03.2023 analysis

Overview:

The EUR/USD pair fell from the level of 1.0750 to bottom at 1.0525 yesterday. Today, the EUR/USD pair has faced strong support at the level of 1.0525.

So, the strong support has been already faced at the level of 1.0525 and the pair is likely to try to approach it in order to test it again and form a double bottom.

Hence, the EUR/USD pair is continuing to trade in a bullish trend from the new support level of 1.0525; to form a bullish channel. According to the previous events, we expect the pair to move between 1.0700 and 1.0525.

Also, it should be noted major resistance is seen at 1.0700, while immediate resistance is found at 1.0615. Then, we may anticipate potential testing of 1.0578 to take place soon.

Moreover, if the pair succeeds in passing through the level of 1.0611, the market will indicate a bullish opportunity above the level of 1.0578.

A breakout of that target will move the pair further upwards to 1.0637.

Buy orders are recommended above the area of 1.0568 with the first target at the level of 1.637; and continue towards 1.0701.

On the other hand, if the EUR/USD pair fails to break out through the resistance level of 1.0750; the market will decline further to the level of 1.0501 (daily support 2).

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Mourad El Keddani,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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

Não pode falar agora?
Faça sua pergunta no chat.