Indicator analysis: Daily review on EUR / USD on February 10, 2020

By | February 10, 2020
InstaForex
Indicator analysis: Daily review on EUR / USD on February 10, 2020

Relevance up to 22:00 2020-02-10 UTC–8

The pair continued to move down on Friday, breaking the support line of the downward channel 1.0960 (red bold line), and the news played a significant role in this. Today, strong calendar news is not expected. The price may roll back up.

Trend analysis (Fig. 1).

Today, a retraceable upward movement is possible with the target of 1.0986, the retracement level of 14.6% (red dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

– Indicator analysis – up;

– Fibonacci levels – up;

– Volumes – up;

– Candlestick analysis – up;

– Trend analysis – up;

– Bollinger Lines – up;

– Weekly schedule – down.

General conclusion:

Today, a retracement upward movement is expected with the target of 1.0986, the retracement level of 14.6% (red dashed line).

An unlikely but possible scenario is from the resistance line 1.0956 (red bold line), the price will go down to the lower fractal 1.0880 (blue dashed line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Stefan Doll,
Analytical expert
InstaForex Group © 2007-2020

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