Indicator analysis. Daily review of the EUR/USD currency pair for February 26, 2021

Yesterday, the pair moved up and tested the historical resistance level 1.2234 (blue dotted line). Then, the price went down and closed the daily candle at 1.2176. Today, the market will try to continue working down. News is not expected on Friday.

Trend analysis (Fig. 1).

Today, the market from the level of 1.2176 (closing of yesterday's daily candle), while moving downward, will try to reach the 13 average EMA, 1.2131 (yellow thin line). In case of testing this line, it is possible to work upwards with the target at 1.2172 - the resistance level (blue bold line).

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Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - down;
  • Fibonacci levels - down;
  • Volumes - down;
  • Candlestick analysis - down;
  • Trend analysis - down;
  • Bollinger lines - down;
  • Weekly chart - up.

General conclusion:

Today, the price from the level of 1.2176 (closing of yesterday's daily candle), while moving downward, will try to reach the 13 average EMA, 1.2131 (yellow thin line). In case of testing this line, it is possible to work upwards with the target at 1.2172 - the resistance level (blue bold line).

Unlikely scenario: the price may move down from the level of 1.2176 (closing of yesterday's daily candlestick) with the target of 1.2124 - 21 EMA (black thin line). In case of testing this line, it is possible to continue working downward with the target of 1.2075 - the historical resistance level (blue dashed line).

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

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