Technical analysis of EURUSD in 1-hour timeframe: 05/03/2023

The observed technical analysis of the EURUSD currency pair indicates that it is currently in a downtrend channel. It is predicted that if the level of 1.10205 is broken during a downtrend, the price targets of 1.09388 and then 1.09014 could be reached.
Furthermore, we should expect the release of non-farm payroll data by the ADP institution later in the day, which could have a significant impact on the dollar index.

Therefore, considering the impact of news and fundamental analysis on the market, it is recommended to thoroughly examine all influential factors before making any trade decisions.

To enter the forex market and make more profits, log in to Delta FX broker.