Indicator analysis. Daily review for the EUR/USD currency pair on February 15, 2021

Trend analysis (Fig. 1).

On Monday, the market from the level of 1.2119 (closing of last Friday daily candle), while moving up, may test the resistance level - 1.2177 (blue bold line). If this level is tested, the price may continue to move up with a target of 1.2234 - the historical resistance level (blue dotted line).

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Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger bands - up
  • Weekly chart - up

General conclusion:

Today, the price from the level of 1.2119 (closing of last Friday daily candle), while moving up, may test the resistance level - 1.2177 (blue bold line). If this level is tested, the price may continue to move up with a target of 1.2234 - the historical resistance level (blue dotted line).

Unlikely scenario: from the level of 1.2119 (closing of last Friday daily candle), the price may start moving up to the resistance level - 1.2177 (blue bold line). If this level is tested, the price may roll back down with a target of 1.2075 - the historical resistance level (blue dotted line).

The material has been provided by InstaForex Company - www.instaforex.com

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