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EURUSD Technical Analysis – 21st FEB, 2024
EURUSD – Bullish Trend Reversal
EURUSD was moving in a bullish momentum yesterday and touched a high of 1.0838 after which we can see a downwards pressure coming into the markets which brought down the prices of Euro towards a low of 1.0789.
Today we can see the formation of Bullish Trend Reversal pattern with MA20 in the 30-minutes timeframe.
The Momentum indicator is back over zero in the 2-hourly timeframe indicating the bullish tone present in the markets.
The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0836 which is a 14-3 Day Raw Stochastic at 70%.
EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
The next resistance is located at 1.0818 which is a 3-10 Day MACD Oscillator Stalls.
EURUSD is now trading below its Pivot levels of 1.0810 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0803 and is moving towards its next target of 1.0836.
Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.
For in-depth analysis, please check FXOpen Blog
EURUSD – Bullish Trend Reversal
EURUSD was moving in a bullish momentum yesterday and touched a high of 1.0838 after which we can see a downwards pressure coming into the markets which brought down the prices of Euro towards a low of 1.0789.
Today we can see the formation of Bullish Trend Reversal pattern with MA20 in the 30-minutes timeframe.
The Momentum indicator is back over zero in the 2-hourly timeframe indicating the bullish tone present in the markets.
The prices of EURUSD are ranging near the support of the triangle and channel in the weekly timeframe.
In the short term we are now looking at some market consolidation after which the prices will start moving upwards with immediate targets of 1.0836 which is a 14-3 Day Raw Stochastic at 70%.
EURUSD is now trading above its 100-hour SMA and 200-hour SMA simple moving averages.
- Euro bullish reversal seen above the 1.0789 mark.
- Short-term range appears to be Mild Bullish.
- EURUSD continues to remain above the 1.0780 levels.
- Average true range ATR is indicating high market volatility.
The next resistance is located at 1.0818 which is a 3-10 Day MACD Oscillator Stalls.
EURUSD is now trading below its Pivot levels of 1.0810 and is moving into a Mild Bullish Channel. The price of EURUSD remains above its Classic support levels of 1.0803 and is moving towards its next target of 1.0836.
Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.
For in-depth analysis, please check FXOpen Blog