See also
15.03.2023 10:17 AMTechnical Market Outlook:
The EUR/USD pair has made a new weekly high at the level of 1.0760 and is consolidating the recent gains. The bears might start the pull-back towards the intraday technical support seen at 1.0692 or 1.0680. There is a 100 and 50 MA cross on the H4 time frame chart, so the outlook remains bullish with the next target seen at the level of 1.0804. The market conditions on the H4 time frame chart are now extremely overbought, so a pull-back is welcome and when completed, the bulls should resume the up move again.
Weekly Pivot Points:
WR3 - 1.08556
WR2 - 1.07825
WR1 - 1.07553
Weekly Pivot - 1.07094
WS1 - 1.06822
WS2 - 1.06363
WS3 - 1.05632
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.
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?
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 InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
