empty
10.03.2022 02:32 AM
Trading plan for EURUSD for March 10, 2022

This image is no longer relevant

Technical outlook:

EURUSD has rallied through 1.1100 levels late in the New York Session on Wednesday. The single currency pair is pulling back a bit and trading through 1.1050 mark at this point in writing. Bulls remain poised to push through yet another high towards 1.1165 mark in the near term. They should hold prices above 1.0800 low to keep the bullish scenario intact.

EURUSD has now completed its Morning Star candlestick pattern on the daily chart as seen here. Please note that the recent bounce has come from its weekly trend line support connecting 1.0300 and 1.0630 levels, which is not shown here. The bullish reversal is hence quite significant and potential remains for a push through 1.1500 in the near term.

EURUSD has also found support just below the Fibonacci 0.786 retracement of the entire rally between 1.0636 and 1.2350 levels. Bulls will be inclined to remain in control from here on and target 1.1200 mark in the immediate future. We can expect a meaningful pullback or retracement thereafter.

Trading plan:

Potential rally towards 1.1500 against 1.0800

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
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

How to Trade the GBP/USD Pair on April 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair rose by 130 pips. Such was the "boring Monday" without a macroeconomic report or important speech

Paolo Greco 06:43 2025-04-29 UTC+2

How to Trade the EUR/USD Pair on April 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair showed somewhat mixed movements, no matter how you look. On the one hand, the pair demonstrated

Paolo Greco 06:43 2025-04-29 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 29: The Pound Sterling Is Back to Its Old Ways

On Monday, the GBP/USD currency pair once again traded higher despite having no fundamental reasons. However, by now, all traders should be accustomed to such developments. While the euro tends

Paolo Greco 04:32 2025-04-29 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 29: Euro Growth Did Not Affect the Flat Trend

On Monday, the EUR/USD currency pair showed a decent upward movement during the day but remained within the narrow sideways channel of 1.1312–1.1414 (Kijun-sen line). Recall that the euro

Paolo Greco 04:32 2025-04-29 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 28th (Analysis of Morning Trades)

In my morning forecast, I focused on the 1.3342 level and planned to make trading decisions based on it. Let's take a look at the 5-minute chart and see what

Miroslaw Bawulski 19:19 2025-04-28 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 28th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1391 level and planned to make trading decisions from there. Let's look at the 5-minute chart and see what happened. Although there

Miroslaw Bawulski 19:07 2025-04-28 UTC+2

How to Trade the GBP/USD Pair on April 28? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD The GBP/USD pair also showed no interesting movements on Friday. Like the euro, the British pound remained very close to a flat

Paolo Greco 05:51 2025-04-28 UTC+2

How to Trade the EUR/USD Pair on April 28? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD The EUR/USD currency pair continued to trade sideways on Friday. The market continues to ignore all macroeconomic data, and last week once

Paolo Greco 05:51 2025-04-28 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 28: The Pound Does Not Believe in De-escalation

The GBP/USD currency pair continued sideways trading on Friday, holding near three-year highs. The fact that the British pound refuses even a slight downward correction shows the market's disbelief

Paolo Greco 04:14 2025-04-28 UTC+2

Trading Recommendations and Analysis for EUR/USD April 28: The Flat Continues

The EUR/USD currency pair continued trading sideways throughout Friday. In the second half of last week, the euro traded exclusively between the levels of 1.1321 and 1.1391, although the overall

Paolo Greco 04:13 2025-04-28 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.