empty
27.03.2023 10:22 AM
Trading plan for EURUSD on March 27, 2023

This image is no longer relevant

Technical outlook:

EURUSD has reversed sharply after printing highs around 1.0930 over the last week. The single currency pair almost reached 1.0700 last Friday before finding some bids and is seen to be trading around 1.0765 at this point in writing. A bearish Evening Star pattern on the daily chart is in the making, indicating that the price is sliding lower from here.

EURUSD bears are now looking inclined to drag prices towards 1.0500 and down to 1.0100 in the next few trading sessions. The larger-degree upswing between 0.9535 and 1.1035 is being worked on right now. Also, note that 1.0100 is the Fibonacci 0.618 retracement of the above upswing, hence, a bullish reaction is expected if prices reach there.

EURUSD's recent wave structure indicates that prices are plotting their last wave lower against 1.0930 to complete the corrective phase. Prices have reversed from the Fibonacci 0.786 retracement of the recent downswing between 1.1035 and 1.0525. Therefore, prices might reach 1.0350 and pull back again before resuming lower.

Trading idea:

A potential bearish move towards 1.0250 against 1.1035

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Oscar Ton
Start trade
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 July 25? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair exhibited a relatively strong decline, triggered by weak business activity indices in the UK. However, this explanation

Paolo Greco 06:43 2025-07-25 UTC+2

How to Trade the EUR/USD Pair on July 25? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair showed no significant movements on Thursday and remained in low volatility, despite it being the most eventful

Paolo Greco 06:43 2025-07-25 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 25: The Pound Finds Time for a Correction

On Thursday, the GBP/USD currency pair traded lower, which can be considered a local correction. This movement will cease to be a correction only if the price consolidates below

Paolo Greco 04:17 2025-07-25 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 25: The Market Wanders Aimlessly

On Thursday, the EUR/USD currency pair exhibited astonishingly low volatility and a complete unwillingness to move in any clear direction. Many traders were expecting active movements during

Paolo Greco 04:17 2025-07-25 UTC+2

How to Trade the GBP/USD Pair on July 24? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair also continued its upward movement on Wednesday. As expected, this happened without the need for any news or reports

Paolo Greco 07:12 2025-07-24 UTC+2

How to Trade the EUR/USD Pair on July 24? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair continued its upward movement. Essentially, we are seeing the same pattern every day this week —

Paolo Greco 07:12 2025-07-24 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 24: The Pound Found No Reason to Pause

Unlike the EUR/USD pair, the GBP/USD currency pair steadily continued its upward movement on Wednesday. There were no significant macroeconomic events in either the U.S. or the UK during

Paolo Greco 04:02 2025-07-24 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 24: Trump's Trade Deal Didn't Help the Dollar

The EUR/USD currency pair showed no notable movements on Wednesday, and the market displayed no interest in Donald Trump's trade deals. As we've said repeatedly, what's the point of trade

Paolo Greco 04:02 2025-07-24 UTC+2

How to Trade the GBP/USD Pair on July 23? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair also continued its upward movement on Tuesday. As expected, this did not require any news or reports. One could

Paolo Greco 06:51 2025-07-23 UTC+2

How to Trade the EUR/USD Pair on July 23? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued its upward movement, as expected. Recall that the day before, the price consolidated above

Paolo Greco 06:51 2025-07-23 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.