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Forex Analysis & Reviews: Indicator Analysis of EUR/USD on March 18, 2024



Today, the price may move upward from the level of 1.0887 (closing of Friday's daily candlestick) to 1.0917, the 50% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0939, the historical resistance level (blue dotted line). Alternatively, from the level of 1.0887 (closing of Friday's daily candlestick), the price may move downward to 1.0871, the 38.2% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible to 1.0917, the 50% pullback level (red dotted line).


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Forex Analysis & Reviews: Overview of the GBP/USD pair. March 19th. Ahead of the Fed meeting


The GBP/USD pair broke out of the flat and attempted to resume the uptrend. But we still expect a resumption of the downward movement with targets at 1.2543 and 1.2512. The market still very reluctantly buys the dollar and sells the pound, completely ignoring the fundamental and macroeconomic background. This week, it can easily interpret the received information in favor of the pound, even if it is in favor of the dollar. Formally, long positions can be considered when the price is above the moving average, but now the long-awaited consolidation below the moving average has occurred. Therefore, we support any sales of the pair. Explanations for the illustrations: Linear regression channels - help determine the current trend. If both are pointing in the same direction, it means the trend is currently strong. The moving average line (settings 20.0, smoothed) - determines the short-term trend and the direction in which trading should be conducted now. Murray levels - target levels for movements and corrections. Volatility levels (red lines) - the probable price channel in which the pair will spend the next day, based on current volatility indicators. CCI indicator - its entry into oversold territory (below -250) or overbought territory (above +250) indicates that a trend reversal towards the opposite direction is approaching.


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Forex Analysis & Reviews: EUR/USD and GBP/USD: Technical analysis on March 20

Higher Timeframes During the previous trading session, bearish players reached and were able to test the crucial milestone of 1.0839, which consolidated several significant levels across different timeframes. However, the day's outcome was once again fixed within the attraction zone of 1.0876 – 1.0862. As a result, the primary task for bearish players remained the same. New bearish targets and plans can only emerge after bearish players manage to overcome the supports at 1.0876 – 1.0862 – 1.0839 and consolidate below. For bullish players, the benchmarks remain unchanged, situated around 1.0909 – 1.0915 – 1.0918 (daily short-term trend + upper boundaries of the daily and weekly Ichimoku clouds).

H4 – H1 On lower timeframes, a corrective upward movement is currently unfolding, with the weekly long-term trend (1.0895) serving as the main reference point. It should be noted that the key level of lower timeframes today is positioned above the current zone of influence of higher timeframes, so a breakthrough and trend reversal could align with the possibilities of higher timeframes, creating good conditions for changing the current balance of power. The next targets for the upward movement within the day will be the resistances of the classic pivot points R2 (1.0901) and R3 (1.0925). The development of bearish sentiments within the day in the current situation may involve passing through the supports of classic pivot points (1.0859 – 1.0841 – 1.0817 – 1.0799). ***

H4 – H1 The main advantage on lower timeframes currently continues to favor bearish players. Targets for resuming the decline within the day today are located at the levels of 1.2705 – 1.2679 – 1.2640 – 1.2614 (classic pivot points). However, if the current corrective upward movement persists, then for a change in the current balance of power, bullish players must break through and reverse the weekly long-term trend (1.2746). Afterward, they will encounter resistances of classic pivot points (1.2770 – 1.2809), reinforced by resistances from higher timeframes (1.2755-79). *** The technical analysis of the situation uses: Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibonacci Kijun levels Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)

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Forex Analysis & Reviews: Analysis and trading tips for EUR/USD on March 21


Analysis of transactions and tips for trading EUR/USD Further growth became limited because the test of 1.0857 occurred during the sharp rise of the MACD line from zero. Then, a good market movement arose after the Fed's decision, bringing around 50 pips of profit. The Fed said they would stick to their path of reducing interest rates even though they encountered obstacles on the way to low and stable inflation. This led to a decline in dollar and purchases of euro. The upward trend in EUR/USD will continue today as long as Manufacturing PMI, Service PMI, and Composite PMI data for the eurozone exceed expectations.

For long positions: Buy when euro hits 1.0946 (green line on the chart) and take profit at the price of 1.1003. Growth will occur after very good statistics from Germany and the eurozone, especially in the manufacturing sector. When buying, make sure that the MACD line lies above zero or rises from it. Euro can also be bought after two consecutive price tests of 1.0921, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0946 and 1.1003. For short positions: Sell when euro reaches 1.0921 (red line on the chart) and take profit at the price of 1.0875. Pressure will increase in the case of unsuccessful bullish activity around the daily high and weak data. When selling, make sure that the MACD line lies under zero or drops down from it. Euro can also be sold after two consecutive price tests of 1.0946, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0921 and 1.0875.

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Forex Analysis & Reviews: Indicator Analysis of EUR/USD on March 22, 2024


Today, the price may move downward from the level of 1.0860 (closing of yesterday's daily candlestick) to 1.0836, the historical support level (blue dotted line).

In the case of testing this level, an upward movement is possible, with a target of 1.0864, the 38.2% pullback level (red dotted line). Alternatively, from the level of 1.0860 (closing of yesterday's daily candlestick), the price may move downward to 1.0836, the historical support level (blue dotted line). In the case of testing this level, a continued downward movement is possible with a target of 1.0804, the 61.8% pullback level (blue dotted line).


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On Monday, the information background in Japan and the USA will be very weak. The impact of the information background on market sentiment for the rest of the day may be absent. Forecast for USD/JPY and trading recommendations: Selling the yen today may be considered upon rebound from 151.95 on the 4-hour chart with a target of 150.90 or upon closing below the ascending trend corridor on the hourly chart with a target of 149.86. Purchases were possible upon closing above 148.55 on the hourly chart and above 148.79 on the 4-hour chart, with targets at 149.66, 150.89, and 151.95. The first two targets have been reached, and waiting for the third target to be reached makes no sense.


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Forex Analysis & Reviews: EUR/USD and GBP/USD: Technical analysis on March 26



EUR/USD

Higher Timeframes At the opening of the new trading week, bullish players took the initiative. Yesterday, they slightly recovered their positions and executed a retest of the weekly levels (1.0829-39). Now, it is crucial what the outcome of the impending ascent will be. Perhaps the retest will conclude, and bears who took a pause will return to the market, or another scenario may prevail, wherein the bulls continue the ascent and test the accumulation zone of the next resistances at 1.0862 - 1.0876.

GBP/USD

Higher timeframes Bears failed to maintain their momentum; yesterday, the opponents seized the initiative. As a result, the pair returned to the daily cloud (1.2629-62). If bulls prevail in the current confrontation, plans for the liquidation of the death cross of the daily Ichimoku cloud will become relevant again; the levels of the cross can now be marked at the boundaries of 1.2698 - 1.2733 - 1.2771. Currently, the strengthening is represented by the weekly short-term trend (1.2705). If bears regain their momentum in the market, they will have to start with a new attempt to test the support zone at 1.2589 - 1.2566 - 1.2582, which combines monthly and weekly levels.

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