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25.02.201908:44 Forex Analysis & Reviews: Technical analysis for EUR/USD for February 25, 2019

Long-term review

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EUR/USD continues to trade around the 38% Fibonacci retracement having made a base around 1.1310. Short-term trend remains bullish with potential target at least 1.14.

Red line - important resistance trend line

Green line - important support trend line

Black line - RSI Support trend line

Blue line - short-term trend line support

Blue rectangle - second bounce target area

EUR/USD is making higher highs and higher lows in the short-term price. Both RSI and price respect their short-term support trend lines. As long as this holds, we should expect price to move towards the red trend line resistance and the blue rectangle target area where the 61.8% Fibonacci level and the red downward sloping trend line meet. Short-term support is found at 1.1310-1.1330 while resistance is at 1.1370 and next at 1.1410.

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