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

26.02.202007:59 Forex Analysis & Reviews: Technical analysis of EUR/USD for 26/02/2020:

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.

Technical Market Outlook:

The EUR/USD pair has hit the nearest short-term technical resistance zone located between the levels of 1.0879 - 1.0904, so now the price is back into the main descending channel ( marked as brown lines). Moreover, the price is out of the short-term channel for good (the black one), so now the bulls can make another wave up way more easier. The next target for bulls is seen at the level of 1.0895 - 1.0904 zones and the immediate support is seen at the level of 1.0772. The larger timeframe trend is still down.

Weekly Pivot Points:

WR3 - 1.0954

WR2 - 1.0908

WR1 - 1.0871

Weekly Pivot - 1.0825

WS1 - 1.0787

WS2 - 1.0735

WS3 - 1.0693

Trading recommendations:

The best strategy for current market conditions is the same as it was for recent months: trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. The downtrend is valid as long as it is terminated or the level of 1.1445 clearly violated. There is an Ending Diagonal price pattern visible on the larger timeframes like weekly, which indicates a possible downtrend termination soon. The key short-term levels are technical support at the level of 1.0981 and the technical resistance at the level of 1.1267.

Exchange Rates 26.02.2020 analysis

Sebastian Seliga
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