Indicator analysis. Daily review for the EUR/USD currency pair on February 9, 2021

Trend analysis (Fig. 1).

On Tuesday, the market from the level of 1.2049 (closing of yesterday's daily candle) will try to continue moving up with the target of 1.2102 - the 76.4% retracement level (yellow dotted line). After testing this level, the price can continue to work up with the target of 1.2176 - the resistance level (blue bold 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 1.2049 (closing of yesterday's daily candle) will try to make an upward movement with the target of 1.2102 - the 76.4% retracement level (yellow dotted line). After testing this level, the price can continue to work up with the target of 1.2176 - the resistance level (blue bold line).

Unlikely scenario: the price from the level of 1.2049 (closing of yesterday's daily candle) will try to move up with the target of 1.2102 - the 76.4% retracement level (yellow dotted line). After testing this level, the price can continue to work downwards with the target of 1.1975 - the 50.0% retracement level (red dotted line).

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

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