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

27.02.202010:25 Forex Analysis & Reviews: Trader's diary for February 27, 2020. EUR/USD Market condition

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 27.02.2020 analysis

The euro is growing for the fifth day in a row, this is despite the fact that we have ascertained the state of a downward trend in the market.

So, is this a correction or a U-turn?

The daily chart of the euro is shown above where the three colored lines of B. Williams' Alligator indicator are clearly visible. According to long-term experience, the complete reversal of the downward trend is the closing of the day above the blue line of the indicator which is at 1.0990 for this day. On Friday, the line will drop to 1.0965.

So, this means that despite the continued growth, this is a correctional pullback.

You can carry on with the sales.

What's next?

The best case scenario is that a strong decline will be observed directly from the current levels which will create a potentially interesting level to go up towards the last maximum before the decline.

After the strong decline, the pair will then be able to move upward from that very level.

However, the worst probable case is that the pair will have to exit at 1.0990 at the breakeven point where the reversal of the downward trend took place.

Jozef Kovach
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