Monday 13th March 2023: Technical Outlook and Review
Price has reversed nicely from our 1st support at 1805. Currently, the price is testing our 1st resistance at 181 which lines up with the 50% Fibonacci retracement. If the price were to reverse from this resistance, it could drop to our 1st support at 1805. Our 2nd support is at 1734, which is overlap support.
Friday 10th March 2023: Technical Outlook and Review
Price has reversed from 1st resistance area of 105.82, which is an overlap resistance. it could potentially drop to our 1st support at 103.80, which has the 38.2% Fibonacci retracement. The next support level is at 102.79, which is an overlap support that lines up with the 61.8% Fibonacci retracement. Do take of our intermediate support at 105.02
US Daylight Savings & Server Time Changing to GMT+3 – 2023
Dear Trader, On Sunday the 12th of March, IC Markets Trading servers will move forward by one hour from GMT+2 to GMT+3 as parts of the US will enter daylight savings.
Thursday 9th March 2023: Technical Outlook and Review
Price is testing our 1st support level at 1804, which is an overlap support. If the price were to break from this level, we could see it drop back down to the 2nd support level at 1785, which is a major overlap support.
Wednesday 8th March 2023: Technical Outlook and Review
The price is approaching our 1st support level at 1804, which is an overlap support. If the price were to break from this level, we could see it drop back down to the 2nd support level at 1785, which is a major overlap support.
Tuesday 7th March 2023: Technical Outlook and Review
We’re seeing price test major resistance at 80.81 which is a recent swing high resistance. It is worth noting that price is seeing a recent ascending support line suggesting that there might be bullish momentum.
Monday 6th March 2023: Technical Outlook and Review
Price has bounced off from our first support and it could potentially push up to our first resistance level at 1880 with the 50% Fibonacci retracement. However, if the price were to break, it could push up to our second resistance level at 1907 with the 61.8% Fibonacci retracement.
Friday 03rd March 2023: Technical Outlook and Review
Price has broken out of a recent bearish channel suggesting a bullish move might be on the cards. We’re seeing the 1st resistance at 1864 which is an overlap resistance that lines up with the 38.2% Fibonacci retracement.
Thursday 02nd March 2023: Technical Outlook and Review
Price has broken out of a recent bearish channel suggesting a bullish move might be on the cards. We’re seeing the 1st resistance at 1864 which is an overlap resistance that lines up with the 38.2% Fibonacci retracement.
