empty
31.03.2023 03:12 PM
EUR/USD outlook for March 31, 2023

This image is no longer relevant

Today is the last day of the week, month, and quarter, and EUR/USD ends it on a positive wave. Despite a noticeable decline in February, the pair managed to fully recover its losses in March and strengthen to the level of 1.0900.

Economists are optimistic about the pair's prospects. To enter the long-term bull market zone, EUR/USD must overcome two key resistance levels at 1.0970 (144 EMA on the weekly chart) and 1.1090 (200 EMA on the weekly chart). A couple of weeks may be enough for this, given the continuing trend in the market.

This image is no longer relevant

The first signal to build up long positions will be the rise above the short term resistance at 1.0875, and the confirmation signal is a breakout of the local resistance at 1.0930.

In the alternative scenario, and with a new deterioration in the mood of stock market participants, we should expect the dollar to strengthen and the EUR/USD to fall.

This image is no longer relevant

The breakdown of the important short-term support level 1.0815 will be the first signal for the resumption of short positions. The downside target is support levels 1.0600 and 1.0575. The breakdown of the local support level 1.0520 will resume the bearish trend of EUR/USD.

Support levels: 1.0815, 1.0800, 1.0729, 1.0710, 1.0610, 1.0575, 1.0520

Resistance levels: 1.0875, 1.0900, 1.0930, 1.0970, 1.1030, 1.1090

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

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

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair continued its movement toward the ascending trend line, and during the night into Thursday, it unexpectedly broke

Paolo Greco 06:31 2025-05-29 UTC+2

How to Trade the EUR/USD Pair on May 29? 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 downward movement, and during the night into Thursday, it experienced a sharp drop. There

Paolo Greco 06:31 2025-05-29 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 29: The British Pound on the Edge

On Wednesday, the GBP/USD currency pair continued a sluggish downward movement, which this time lacked any fundamental support. As a reminder, on Monday, the dollar might see increased demand

Paolo Greco 03:32 2025-05-29 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 29: The Dollar Breaks All Records

On Wednesday, the EUR/USD currency pair continued a mild downward movement, which still falls within the framework of the prevailing uptrend. In other words, we are still observing a correction

Paolo Greco 03:32 2025-05-29 UTC+2

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

In my morning forecast, I highlighted the 1.3497 level and planned to base entry decisions on it. Let's look at the 5-minute chart and see what happened. A rise

Miroslaw Bawulski 18:31 2025-05-28 UTC+2

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

In my morning forecast, I highlighted the 1.1300 level and planned to base my entry decisions around it. Let's take a look at the 5-minute chart to see what happened

Miroslaw Bawulski 18:27 2025-05-28 UTC+2

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

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair also traded lower for the same reasons as the EUR/USD pair. First, after a conversation with Ursula

Paolo Greco 06:41 2025-05-28 UTC+2

How to Trade the EUR/USD Pair on May 28? 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 downward movement, which had begun on Monday. The dollar continued to strengthen the night

Paolo Greco 06:41 2025-05-28 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 28: A Minor Correction Won't Hurt

On Tuesday, the GBP/USD currency pair also traded lower for the same reasons as the EUR/USD pair. However, it cannot be said that the British currency depreciated significantly—an upward movement

Paolo Greco 04:10 2025-05-28 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 28: The Dollar's Joy May Be Short-Lived

The EUR/USD currency pair showed a somewhat significant downward movement on Tuesday. However, this move did not impact the overall trend, market sentiment, or the broader context. The strengthening

Paolo Greco 04:10 2025-05-28 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.