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
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 Currency Pair on November 6? Simple Tips and Trade Breakdown for Beginners

The GBP/USD currency pair remained stagnant on Wednesday. If the U.S. dollar had continued to rise yesterday, it would not have come as a surprise, as there were solid reasons

Paolo Greco 06:04 2025-11-06 UTC+2

How to Trade the EUR/USD Currency Pair on November 6? Simple Tips and Trade Breakdown for Beginners

The EUR/USD currency pair once again exhibited absurd movements on Wednesday. This time, the market ignored positive U.S. macroeconomic data, reaffirming our assumptions about the illogical current strength

Paolo Greco 06:04 2025-11-06 UTC+2

Trading Recommendations and Trade Analysis for GBP/USD on November 6. Is the Pound Tired of Falling?

The GBP/USD currency pair managed to avoid a new decline on Wednesday —what is it? A calm before a new storm? Or before another fall of the British pound? Recall

Paolo Greco 02:08 2025-11-06 UTC+2

Trading Recommendations and Trade Analysis for EUR/USD on November 6. The Absurd Continues

The EUR/USD currency pair continued its downward movement on Wednesday. However, the most interesting aspect is not merely the further decline of the European currency. Recall that on Monday

Paolo Greco 02:08 2025-11-06 UTC+2

How to Trade the GBP/USD Currency Pair on November 5? Simple Tips and Trade Breakdown for Beginners

The GBP/USD pair continued its downward movement on Tuesday. This time, the decline of the British currency was "provoked" by a new speech from the UK Chancellor of the Exchequer

Paolo Greco 06:30 2025-11-05 UTC+2

How to Trade the EUR/USD Currency Pair on November 5? Simple Tips and Trade Breakdown for Beginners

The EUR/USD currency pair continued to slide downward on Tuesday without any compelling reasons. During the past day, the only significant event was the speech by Christine Lagarde, the President

Paolo Greco 06:30 2025-11-05 UTC+2

Trading Recommendations and Trade Analysis for GBP/USD on November 5. The Market Awakens an Intense Love for the Dollar

The GBP/USD currency pair traded lower again on Tuesday, without any apparent reason. Throughout Tuesday, there were no significant macroeconomic reports or important events in either

Paolo Greco 02:46 2025-11-05 UTC+2

Trading Recommendations and Trade Analysis for EUR/USD on November 5. Euro Shows No Signs of Stopping

The EUR/USD currency pair continued to trade lower on Tuesday. Volatility was somewhat higher this time, at an average level, but there was no logic behind the movements. The euro

Paolo Greco 02:46 2025-11-05 UTC+2

How to Trade the GBP/USD Currency Pair on November 4? Simple Tips and Trade Analysis for Beginners

On Monday, the GBP/USD pair made yet another attempt to break through the level of 1.3107, resulting in a third bounce. However, traders are not giving up and will attempt

Paolo Greco 07:06 2025-11-04 UTC+2

How to Trade the EUR/USD Currency Pair on November 4? Simple Tips and Trade Analysis for Beginners

On Monday, the EUR/USD currency pair continued its downward movement with minimal volatility. The low volatility observed in recent weeks did not raise any concerns, as important macroeconomic reports have

Paolo Greco 07:06 2025-11-04 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.