Technical analysis of EUR/USD 02/16/2021
The EUR/USD currency pair is in an uptrend on the daily chart. The pair found resistance at the level of 1.2345, where it corrected to 1.1950 (50% Fib) and (MA100), after which it resumed its growth.
Now the pair is trading in the level of 1.2140. The technical picture suggests a continuation of the upward movement above the resistance of 1.2345.
Cancellation of the growth development option will be a quotes falling below 1.1900 (61.8% Fib). It will indicate a breakdown of the uptrend line and (MA100), what will be a signal to change the trend on the non-daily timeframe and a possible continuation of the pair’s decline up to the level of 1.1600.
Created by Joshua Hayn
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