Indicator analysis. Daily review of the EUR/USD currency pair for February 19, 2021

Trend analysis (Fig. 1).

Today, from the level of 1.2090 (closing of yesterday's daily candle), the market will move up and try to reach the resistance line of 1.2115 (red bold line). If this line is tested, it is possible to continue working upwards with the target of 1.2172 - 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, from the level of 1.2090 (closing of yesterday's daily candle), the price will move up and try to reach the resistance line of 1.2115 (red bold line). If this line is tested, it is possible to continue working upwards with the target of 1.2172 - the resistance level (blue bold line).

Unlikely scenario: the price, from the level of 1.2090 (closing of yesterday's daily candle), will move down with a target of 1.2063 – the 38.2% retracement level (red dotted line). When testing this level, it is likely to continue working 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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