Technical analysis of EUR/USD 02/21/2023

The EUR/USD currency pair on (1D) is in an ascending channel. During the upward movement, the price found resistance at the level of 1.1030 (the upper limit of the ascending channel), after which it corrected and is currently in the area of 1.0650 (23.6% Fibo).

If the quotes manage to consolidate below the level of 1.0600, then technically this will mean the development of a downward correction with a target in the area of 1.0470 (38.2% Fibo), (MA100), (lower line of the ascending channel).

The signal to cancel the option to continue the downward correction will be the growth of quotations above the level of 1.1030 and will indicate a possible continuation of growth with a target near the level of 1.1222.


Created by Joshua Hayn

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