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FX.co ★ Forecast for EUR/USD on March 2, 2021

Forecast for EUR/USD on March 2, 2021

EUR/USD

Yesterday, the euro traded in a range of 74 points, closing the day with a decline and consolidation below the balance (red) and MACD (blue) indicator lines. The balance line shows the market mood within the trend, the MACD line determines the trend itself. Now the price is approaching the target level of 1.2023, identified at the February 17 low. Getting the price to settle below it opens targets like 1.1915, then 1.1870. The Marlin oscillator is in a downward trend zone.

Forecast for EUR/USD on March 2, 2021

The price continues to fall without signs of a reversal on the four-hour chart:

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Forecast for EUR/USD on March 2, 2021

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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