Q3 Earnings Alert: These are the most overvalued right nowSee Overvalued Stocks

EUR/USD Bulls Looking to Test March 7th Level

Published 03/10/2023, 10:20 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
-

EUR/USD Daily Chart

  • The EUR/USD is trying to create a double bottom with February 27th and test the March 7th high.
  • Bulls want to get above the March 7th high and end the argument of a bear trend.
  • Next, the bull wants to get a strong bull breakout above the neckline (March 7th) of the double bottom for a measured move up testing the 1.0800 price level.
  • Bears should not have allowed yesterday to close on its high and form a double bottom. At the moment, it looks like many bears got out above yesterday’s high, anticipating a test of the March 7th high.
  • Overall, bulls want a strong follow-through bar today and a test of the March 7th high. The bears will try their best to put a tail on today’s bar and disappoint the bulls.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.