EURUSD analysis 08.03.2023. Bulls call?

-Here you can see the ranges within where EUSUSD is trading.

-If we consider the 2nd leg to be a mirror of the 1st leg, we could bet that 1.05200 support will hold.

-Another assumption is that the general trend wants to continue up so the zone 1.05200 won't break.

-Our 3M analysis says here-

that we formed a big shadow end of December 2022 quarter.

-It also says that from our 6 months analysis here-

that in the close of the last quarter last year, price pinted a bullish kangaroo tail; A very good reversal candle.

-Now that we are in the close of the 1st quarter-2023, if price wants to continue up we can expect very bullish moves in today and in the coming weeks in order to keep the momentum to the price 1.19000 strong.

-From this information we can round it up in summary that there is a higher probability of this pair moving even higher right now. We could reach the coveted high at 1.09900 sooner that we expect.

評論:

-Candle chart of the same.

評論:

Here you can see the ranging.

評論:

-Support being created. We have been bullish for the past 12 hours as per the tape.

評論:

-Price has been holding nicely within the ranges with the lower zone at 1.05200 area

評論:

-First quarter of the year 2023 closed bullish as expected