Indicator analysis: Daily review of EUR/USD on April 3, 2023
April 3, 2023 8:24 am
The euro-dollar pair may move downward from the level of 1.0838 (closing of Friday’s daily candle) to 1.0713, the 38.2% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0835, the 61.8% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – up;
Candlestick analysis – down;
Trend analysis – up;
Bollinger bands – up;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.0838 (closing of Friday’s daily candle) to 1.0713, the 38.2% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0835, the 61.8% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.0838 (closing of Friday’s daily candle) to 1.0790, the 13-day EMA (thin yellow line). When testing this level, an upward movement is possible with the target of 1.0835, the 61.8% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
The euro-dollar pair may move downward from the level of 1.0838 (closing of Friday’s daily candle) to 1.0713, the 38.2% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0835, the 61.8% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.0838 (closing of Friday’s daily candle) to 1.0713, the 38.2% pullback level (yellow dotted line). When testing this level, the price may move upward with the target of 1.0835, the 61.8% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.0838 (closing of Friday’s daily candle) to 1.0790, the 13-day EMA (thin yellow line). When testing this level, an upward movement is possible with the target of 1.0835, the 61.8% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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