EURUSD Forecast 01/03/2023
The EUR/USD needs to move through the $1.0597 pivot to target the First Major Resistance Level (R1) at $1.0621 and the Tuesday high of $1.06453. A return to $1.06 would signal a bullish session. However, the EUR/USD would need the stats and the ECB chatter to support a breakout session.
In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0670 and resistance at $1.07. The Third Major Resistance Level (R3) sits at $1.0743.
Failure to move through the pivot would leave the First Major Support Level (S1) at $1.0548 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.05. The Second Major Support Level (S2) at $1.0524 should limit the downside. The Third Major Support Level (S3) sits at $1.0451.
Looking at the EMAs and the 4-hourly chart, the EMAs send a bearish signal. The EUR/USD sits below the 50-day EMA ($1.06213). The 50-day EMA slipped back from the 200-day EMA, with the 100-day EMA pulling back from the 200-day EMA, delivering bearish signals.
A move through R1 ($1.0621) and the 50-day EMA ($1.06213) would give the bulls a run at the 100-day EMA ($1.06665) and R2 ($1.0670). A move through the 50-day EMA would send a bullish signal. However, failure to move through the 50-day EMA ($1.06213) would leave the Major Support Levels in play.
In the case of an extended rally, the bulls will likely test the Second Major Resistance Level (R2) at $1.0670 and resistance at $1.07. The Third Major Resistance Level (R3) sits at $1.0743.
Failure to move through the pivot would leave the First Major Support Level (S1) at $1.0548 into play. However, barring a data-fueled sell-off, the EUR/USD pair should avoid sub-$1.05. The Second Major Support Level (S2) at $1.0524 should limit the downside. The Third Major Support Level (S3) sits at $1.0451.
Looking at the EMAs and the 4-hourly chart, the EMAs send a bearish signal. The EUR/USD sits below the 50-day EMA ($1.06213). The 50-day EMA slipped back from the 200-day EMA, with the 100-day EMA pulling back from the 200-day EMA, delivering bearish signals.
A move through R1 ($1.0621) and the 50-day EMA ($1.06213) would give the bulls a run at the 100-day EMA ($1.06665) and R2 ($1.0670). A move through the 50-day EMA would send a bullish signal. However, failure to move through the 50-day EMA ($1.06213) would leave the Major Support Levels in play.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.