EURUSD – the Euro correction target is 1.0677

27.03.2023

Daily: the euro is pulling down and it is likely to stop near the middle Bollinger band (1.0677), because there was a breakdown of the upper envelope earlier, which is a signal for the quotes’ growth continuation exactly from the middle line.

H4: The level of 1.0677 forms a tight support area with the round level of 1.0703, where the lower Bollinger band is also located. There is a significant probability of an upward reversal from this area.

H1: A double break-down of the lower Bollinger envelope indicates that the final part of the decline is still waiting for us. Generally, it coincides with the expectation of the breakout of the zone 1.0677.

Conclusions: decline to 1.0677.
Recommendations: Sell to 1.0677.