empty
29.03.2023 05:16 PM
Technical analysis of EUR/USD for March 29, 2023

This image is no longer relevant

Overview:

As expected, the EUR/USD pair is still moving upwards from the level of 1.0650. Yesterday, the pair rose from the level of 1.0650 (this level of 1.0650 is represented a major support) to the top around 1.0836.

Today, the first resistance level is seen at 1.0737 followed by 1.0800, while daily support 1 is seen at 1.0650. According to the previous events, the EUR/USD pair is still moving between the levels of 1.0650 and 1.0800; for that we expect a range of 150 pips (1.0650 - 1.0800).

If the EUR/USD pair fails to break through the minor support level of 1.0687, the market will rise further to 1.0737. This would suggest a bullish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs.

Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bullish opportunity above the level of 1.0650. The pair is expected to rise lower towards at least 1.0864 with a view to test the daily resistance. Next target at the price of 1.0900.

On the other hand, if the EUR/USD pair fails to break through the resistance level of 1.0737 this week, the market will decline further to 1.0632. The pair is expected to drop lower towards at least 1.0774 with a view to test the weekly pivot point.

Also, it should be noted that the weekly pivot point will act as minor support today. So, if a breakout takes place at the support level of 1.0632 (major support), then this scenario may become invalidated.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

XAU/USD. Analysis and Forecast

Gold is rising today as investors remain on edge amid uncertainty surrounding trade tariffs, fiscal challenges in the U.S., and geopolitical risks—factors that support demand for safe-haven assets. Additionally, expectations

Irina Yanina 18:23 2025-05-28 UTC+2

Trading Signals for EUR/USD for May 28-30, 2025: sell below 1.1350 (200 EMA - 21 SMA)

Early in the American session, the euro is trading around 1.1320 within the uptrend channel formed on the H4 chart since May 9 and showing signs of exhaustion

Dimitrios Zappas 18:02 2025-05-28 UTC+2

Trading Signals for GOLD (XAU/USD) for May 28-30, 2025: sell below $3,310 (200 EMA - 21 SMA)

Early in the American session, gold is trading around 3,306 within the bearish trend channel formed on H1 charts since May 23. The yellow metal is likely to continue

Dimitrios Zappas 18:01 2025-05-28 UTC+2

Forecast for EUR/USD on May 28, 2025

On Tuesday, the EUR/USD pair consolidated below the 1.1374–1.1380 zone and then rebounded from it from below. This confirms the continuation of the downward move, and a close below

Samir Klishi 11:32 2025-05-28 UTC+2

Forex forecast 28/05/2025: NZD/USD, EUR/USD, USD/JPY, Gold, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:44 2025-05-28 UTC+2

GBP/USD – May 28th: How Will the FOMC Minutes Influence the Market?

On the hourly chart, the GBP/USD pair continued its decline on Tuesday and consolidated below the 161.8% Fibonacci retracement level at 1.3520. This means that the downtrend could continue today

Samir Klishi 09:54 2025-05-28 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 28, 2025.

With the appearance of Convergence between the movement of the AUD/JPY currency pair against the Stochastic Oscillator indicator and also confirmed by its price movement which is moving above

Arief Makmur 08:39 2025-05-28 UTC+2

EUR/USD Forecast for May 28, 2025

On Tuesday, the euro underwent a technical correction from the resistance level 1.1420. On the same day, gold declined by 1.14%, WTI crude oil by 0.44%, and government bond yields

Laurie Bailey 05:08 2025-05-28 UTC+2

GBP/USD Forecast for May 28, 2025

On Tuesday, the British pound hesitated to enter the narrow wedge between the price channel line and the target level 1.3635. In the context of a 0.42% strengthening

Laurie Bailey 05:08 2025-05-28 UTC+2

USD/JPY Forecast for May 28, 2025

Yesterday, the USD/JPY pair posted solid growth—0.90% or 149 pips—on the back of a 0.42% strengthening of the U.S. dollar index. As a result, the price is now trading above

Laurie Bailey 05:08 2025-05-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.