Technical analysis of EUR/USD 03/30/2021

The EUR/USD currency pair is in a downward correction on the daily chart. The pair has broken from above (MA200) and is currently trading at the level of 1.1700 (38.2% Fib). If the quotes manage to stay below the level of 1.1700, this will mean the formation of a “Head and Shoulders” pattern with a possible decline to the area of the level of 1.1500 (50% Fib). Cancellation of the downward movement option will be the growth of the pair above the level of 1.2000 (the previous local maximum), which will mean a possible resumption of the uptrend after the correction.


Created by Joshua Hayn

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
5.0 out of 5 based on 1 rating

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>