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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Elliott wave analysis of EUR/USD for March 31, 2023
00:09 2023-03-31 UTC--4
Exchange Rates analysis

EUR/USD is challenging resistance at 1.0930. A break above here will open the door for a higher move towards resistance at 1.1033 on the way higher to the first upside target at 1.1248 and likely closer to the 1.1424 target.

That said, if however, resistance at 1.0930 is able to cap the upside, we could see EUR/USD return to support at 1.0820 and maybe even all the way back to 1.0724 if a flat correction is unfolding as wave 2. This flat option is not our preferred outlook, but not an option that we can rule out for now.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.