The EUR / USD pair, in the morning of the American session, in 1-hour charts, is trading above the 21 SMA and ready to break the 200 EMA, we can also notice a bullish wedge, only if the pair is holding above the key 1.1870 level, there could be upward momentum to the 1.1962 and 1.2025 area.
The eagle indicator is showing bullish signal, since at this time of writing the article is in the area of the 200 EMA, it is likely that there will be a rejection and there could be a technical correction to the zone of 1.1885.
A bounce in the area of the SMA of 21, 1.1885, is the key because there we notice a strong support because previous occasions it has sustained the pair, and has left several rejection wicks. This level could be a good point to buy.
On the contrary, a definite break below 1.1870, we would expect a drop to the 1/8 Murray zone, located at 1.1840. this will be the bearish target.
Market sentiment for Monday shows 50.93% of operators who are selling the market for this is a sign that in the short term there could be an upward movement to the 1.2023 area.
Our recommendation is to buy above the 21 SMA or a break above the 200 EMA, both levels will give us good trading opportunities.
Support And Resistance Levels For March 22 - 23, 2021
Resistance (1) 1.1935
Resistance (2) 1.1962
Resistance (3) 1.2024
Support (1) 1.1890
Support (2) 1.1862
Support (3) 1.1835
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Trading tip for EUR/USD for March 22 - 23, 2021
Buy above 1.1925 (EMA 200, H1) with take profit at 1.1962 and 1.2025 (EMA 200 4 hours), stop loss below 1.1875.
Buy if rebound at 1.1885 (SMA 21) with take profit at 1.1925 (EMA 200), and 1.1962 (2/8) stop loss below 1.1845.
