empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

22.02.202115:55 Forex Analysis & Reviews: Trading Signal for EUR/USD on February 22 - 23, 2021: Key level 1.2145

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 22.02.2021 analysis

EUR/USD has found resistance around 1.2140/50 which remains a key barrier. If the euro manages to settle above this level, it would be positioned to extend the bullish run to the 4/8 murray at 1.2207.

If it fails to break through this level, a corrections to the 1.2105 area and the 3/8 murray at 1.2085 is be expected.

On the 4-hour chart, we can observe strong resistance in the area of 1.2141. The pair has tried to break through this level several times, but it has always been rejected. Now it is facing this zone. Therefore, if the pair trades above 1.2150, our recommendation is to buy EUR/USD above this level with the targets up to 1.2207 (4/8 of murray).

On the other hand, if the price breaks through the 200 EMA level, a correction to 1.2085 is expected. This level acts as immediate support and a level of possible upward rebound where we can again buy the EUR/USD pair.

The market sentiment report shows that 59% of traders are selling the EUR/USD pair, which is likely to have a correction to 1.2085 for a new bullish wave. If it prevails above 1.2150, we expect a bullish move until the level of 1.2207.

Support And Resistance Levels For February 22 - 23, 2021

Resistance (1) 1.2182

Resistance (2) 1.2208

Resistance (3) 1.2248

Support (1) 1.2084

Support (2) 1.2051

Support (3) 1.2009

*******************************************************************************************

Trading tip for EUR/USD on February 22 - 23, 2021

Buy if the price breaks above 1.2150, with take profit at 1.2207 (4/8), stop loss below 1.2120.

Sell below 1.2135 (EMA 200) with take profit at 1.2105 and 1.2085 (3/8), stop loss above 1.2160.

Dimitrios Zappas
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off