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Daily Market Analytics - Forex
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[QUOTE="FXOpen Trader, post: 339157, member: 104606"] [B][SIZE=5]EURUSD Technical Analysis – 05th MAR, 2024 EURUSD – Ichimoku: price is over the cloud[/SIZE][/B] [img]https://i.imgur.com/eW1KhuH.png[/img] EURUSD started this week on a bullish note and managed to touch a high of 1.0866 after which we can see some market consolidation. We are now looking to Re-enter the bullish channel after the current consolidation phase gets over. We can see the formation of Bullish Trend reversal pattern with adaptive moving average AMA20 in the 1-hourly timeframe. We can see that the Ichimoku: price is over the cloud in the 4-hourly timeframe indicating the bullish nature of the markets. The Williams percent range indicator is back over zero in the weekly timeframe indicating the bullish tone present in the markets with immediate targets of 1.0869. The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe. In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0869 which is a 3-10 Day MACD Oscillator Stalls. [B]EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages:[/B] [LIST] [*] Euro bullish reversal seen above the 1.08004 mark. [*] Short-term range appears to be Neutral. [*] EURUSD continues to remain above the 1.0840 levels. [*] Average true range ATR is indicating less market volatility. [/LIST] The next resistance is located at 1.0917 which is a 50% Retracement From 13 Week High/Low. EURUSD is now trading below its Pivot levels of 1.0852 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0848 and is moving towards its next target of 1.0917. [I][B]Note:[/B] This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]
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