empty
14.03.2024 03:14 PM
EUR/USD: trading scenarios on March 14, 2024

This image is no longer relevant

Despite the decline during today's Asian trading session, EUR/USD continues to develop an upward dynamic in the zone of short-term and medium-term bullish markets – above the key support levels 1.0830 (144 EMA on the daily chart), 1.0815 (200 EMA on the daily chart), 1.0800.

This image is no longer relevant

However, for investors to be more confident in maintaining long positions, opening new long positions on the EUR/USD pair, and for its buyers, it is probably worth waiting for the breakthrough of the key resistance at 1.1000 (200 EMA on the weekly chart). The first signals could be the breakthroughs of local resistances at levels 1.0965, 1.0980.

Further growth could lead EUR/USD into the zone of the long-term bullish market, above the key resistance levels 1.1000, 1.1040 (50 EMA on the monthly chart), making medium-term and long-term long positions a priority.

This image is no longer relevant

Technical indicators RSI, OsMA, and Stochastic on the daily and weekly charts are also in favor of buyers.

In an alternative scenario, and after breaking below the important support level 1.0910 (144 EMA on the weekly chart and 200 EMA on the 1-hour chart), the decline of EUR/USD may continue down to support levels 1.0860 (50 EMA on the daily chart), 1.0830, 1.0815. Further decline and breakthrough of the level 1.0800 will return EUR/USD to the zone of the medium-term bearish market, making short medium-term positions preferable again. In the long term, below the resistance levels of 1.1000, 1.1040, short positions also remain preferable.

Support levels: 1.0910, 1.0900, 1.0860, 1.0830, 1.0815, 1.0800, 1.0725, 1.0700, 1.0660, 1.0600, 1.0530, 1.0500, 1.0450, 1.0400, 1.0300

Resistance levels: 1.0965, 1.0980, 1.1000, 1.1040, 1.1090, 1.1100, 1.1140, 1.1200, 1.1275, 1.1300, 1.1400, 1.1500, 1.1530, 1.1600, 1.1630

Trading scenarios:

Alternative scenario: Sell Stop 1.0890. Stop-Loss 1.0970. Targets 1.0860, 1.0830, 1.0815, 1.0800, 1.0725, 1.0700, 1.0660, 1.0600, 1.0530, 1.0500, 1.0450, 1.0400, 1.0300

Main scenario: Buy Stop 1.0970. Stop-Loss 1.0890. Targets 1.0980, 1.1000, 1.1040, 1.1090, 1.1100, 1.1140, 1.1200, 1.1275, 1.1300, 1.1400, 1.1500, 1.1530, 1.1600, 1.1630

"Targets" correspond to support/resistance levels. This also does not mean that they will necessarily be reached, but they can serve as a guide when planning and placing trading positions.

Jurij Tolin,
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

GBP/USD: Trading Plan for the U.S. Session on April 25th (Review of Morning Trades)

In my morning forecast, I focused on the 1.3310 level and planned to make trading decisions from there. Let's look at the 5-minute chart and see what happened. A rise

Miroslaw Bawulski 19:05 2025-04-25 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 25th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1391 level and planned to make entry decisions around it. Let's take a look at the 5-minute chart and assess what happened

Miroslaw Bawulski 19:00 2025-04-25 UTC+2

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

Analysis of Thursday's Trades 1H Chart of GBP/USD The GBP/USD pair continued to trade upward on Thursday despite the absence of any objective reasons for such movement. There were

Paolo Greco 07:06 2025-04-25 UTC+2

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

On Thursday, the EUR/USD currency pair traded with a slight upward bias, although it would have been more logical to see a decline in the second half

Paolo Greco 07:06 2025-04-25 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 25: The Pound Isn't Backing Down

On Thursday, the GBP/USD currency pair continued to trade in the "euro style." The intraday movements were relatively weak, and the technical picture suggests the trend might shift downward

Paolo Greco 03:48 2025-04-25 UTC+2

Trading Recommendations and Analysis for EUR/USD April 25: The Market Awaits New Announcements from Trump

The EUR/USD currency pair traded much more calmly on Thursday than during the first half of the week, and the market was also relatively more technical. Since the beginning

Paolo Greco 03:48 2025-04-25 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 24th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3293 level and planned to use it as a reference for entering the market. Let's look at the 5-minute chart and analyze what

Miroslaw Bawulski 20:01 2025-04-24 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 24th (Review of the Morning Trades)

In my morning forecast, I focused on the 1.1358 level and planned to make trading decisions based on it. Let's take a look at the 5-minute chart to understand what

Miroslaw Bawulski 19:58 2025-04-24 UTC+2

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

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair closely followed the movements of the EUR/USD pair, further confirming that the current situation hinges

Paolo Greco 05:50 2025-04-24 UTC+2

How to Trade the EUR/USD Pair on April 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 traded in a mixed manner. During the day, the price changed direction several times, and macroeconomic

Paolo Greco 05:50 2025-04-24 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.