Trend analysis:
EUR/USD may continue to move upward in March, rising from the level of 1.0803 (closing of the February monthly candle) to the 61.8% retracement level of 1.0962 (red dashed line). Following this will be a further increase towards the 76.4% retracement level of 1.1080 (red dashed line).
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - uptrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Conclusion: All signals point to an upward movement in EUR/USD.
Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the monthly white candle (first week of the month - white) and a second upper shadow (last week - black).
Therefore, this month, euro will climb from 1.0803 (closing of the February monthly candle) to the 61.8% retracement level of 1.0962 (red dashed line), followed by a further increase towards the 76.4% retracement level of 1.1080 (red dashed line).
Alternatively, euro could increase from 1.0803 (closing of the February monthly candle) to the 14.6% retracement level of 1.1021 (yellow dashed line), and then drop to the 61.8% retracement level of 1.0954 (red dashed line).
