Technical analysis of EUR/USD 08/02/2022

The EUR/USD currency pair is in an upward correction within a downtrend. The price found resistance at 1.0295 (MA200) at (4H) and is currently consolidating around 1.0200 (lower side of the triangle).

If the upper boundary of the triangle and (MA200) is broken in the area of 1.3000, the nearest target for the growth of the pair is in the area of 1.0500 (23.6% Fibo).

A signal to cancel the development of an upward correction will be a decrease in quotes below 0.9950, which will indicate the continuation and development of a downtrend.

EURUSD_STPH4

Created by Joshua Hayn

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