Trend Analysis
In March, starting from 1.0376 (the closing price of the February monthly candle), the price is likely to continue moving upward toward 1.0573 – the 38.2% retracement level (blue dashed line). If this level is broken, further upward movement toward 1.0694 – the 50% retracement level (blue dashed line) is possible.
Technical Indicator Analysis
- Trend Analysis: Up
- Fibonacci Levels: Up
- Volume Analysis: Up
- Candlestick Analysis: Up
- Bollinger Bands: Up
Conclusion Based on Comprehensive Analysis
A bullish trend is likely.
Projected Monthly Candle Formation
The EUR/USD price is expected to show a strong upward trend, likely forming a white monthly candle with no lower shadow in the first week (indicating a bullish start) and a potential upper shadow in the last week (indicating a correction toward the end of the month).
Alternative Scenario
If the price, starting from 1.0376 (February's closing level), begins an upward movement, it may reach 1.0610 (38.2% retracement level, yellow dashed line). From this level, a downward reversal could occur, targeting 1.0486, a historical support level (light blue dashed line).
