empty
20.03.2023 09:45 AM
Technical Analysis of EUR/USD for March 20, 2023

Technical Market Outlook:

The EUR/USD pair has been seen moving up towards the last swing high located at 1.0760 and the recent local high was made at the level of 1.0691. The market is back above the 100 and 50 MA again as the market moved away from the extremely oversold conditions on H4 time frame chart. The intraday technical support is seen at the level of 1.0637 and the intraday technical resistance is located at 1.0681. In a case of a further down movement extension, the next target for bears is seen at 1.0483, which is the key technical support for bulls on H4 time-frame chart.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.07258

WR2 - 1.07006

WR1 - 1.06865

Weekly Pivot - 1.06754

WS1 - 1.06613

WS2 - 1.06502

WS3 - 1.06250

Trading Outlook:

Since the beginning of October 2022 the EUR/USD is in the corrective cycle to the upside, but the main, long-term trend remains bearish. This corrective cycle might had been terminated at the level of 1.1033 which is 50% Fibonacci retracement level. The EUR had made a new multi-decade low at the level of 0.9538, so as long as the USD is being bought all across the board, the down trend will continue towards the new lows.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Forecast for April 9, 2025

By the end of Tuesday, the euro gained 45 pips, and during today's Pacific session, it has added roughly the same amount, approaching the target level of 1.1027. If resistance

Laurie Bailey 04:31 2025-04-09 UTC+2

GBP/USD Forecast for April 9, 2025

On Tuesday, the British pound tested the lower boundary of the target range at 1.2816/47 with an upper shadow. This morning, the price managed to move inside this range

Laurie Bailey 04:31 2025-04-09 UTC+2

AUD/USD Forecast for April 9, 2025

The Australian dollar's attempts to rise on Monday and Tuesday towards the target level of 0.6133 were halted (as indicated by long upper shadows), but the pair is still pursuing

Laurie Bailey 04:31 2025-04-09 UTC+2

Trading Signals for GOLD (XAU/USD) for April 8-10, 2025: buy above $2,993 (200 EMA - rebound)

Our trading plan for the coming hours is to sell gold below 3,020, as technically there is a bearish trend channel. If gold fails to break above this level

Dimitrios Zappas 14:56 2025-04-08 UTC+2

Trading Signals for EUR/USD for April 8-10, 2025: sell below 1.0986 (200 EMA - 6/8 Murray)

If the euro breaks the downtrend channel, we could expect a new upward movement that could push EUR/USD up to 1.1051, last week's high, the 7/8 Murray at 1.1115

Dimitrios Zappas 14:54 2025-04-08 UTC+2

Forecast for EUR/USD on April 8, 2025

On Monday, the EUR/USD pair made two rebounds from the 76.4% retracement level, turned in favor of the euro, and consolidated above the 1.0944–1.0957 zone. As a result, the upward

Samir Klishi 10:57 2025-04-08 UTC+2

Forecast for GBP/USD on April 8, 2025

On the hourly chart, the GBP/USD pair continued its decline on Monday and ended the day near the 1.2709 level. Over just two trading days, the pound dropped by roughly

Samir Klishi 10:53 2025-04-08 UTC+2

Forex forecast 08/04/2025: EUR/USD, USD/JPY, Oil, SP500, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:50 2025-04-08 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Tuesday 08 April 2025.

After the Divergence appeared between the movement of the Gold price with the Stochastic Oscillator indicator on the 4-hour chart and was also confirmed by its price movement which

Arief Makmur 09:32 2025-04-08 UTC+2

Technical Analysis of Intraday Price Movement of Crude Oil Commodity Instrument, Tuesday 08 April 2025.

With the appearance of Convergence between the daily price movement of the Crude Oil commodity instrument and the Stochastic Oscillator indicator, it confirms that in the next few days

Arief Makmur 09:32 2025-04-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.