12.02.201916:59 Forex Analysis & Reviews: EUR / USD Technical Analysis Recommendations on February 12

EUR / USD pair

The economic calendar is relatively calm today. Only in the late afternoon, important events are expected including the publication of data on the number of open vacancies on the US labor market at 15.00 London time and Fed speech at 17.45 London time.

Bears continue to advance. Yesterday, they didn't just test the nearest benchmark at 1.1290, but also confidently closed the previous day below the level. The attention and interests of players for a fall are directed now to the accumulation of support levels in the area of 1.1229 - 1.1186, which is the target for the breakdown of the day cloud + monthly Senkou Span A + monthly Fib Kijun. A Breakdown of this zone will allow to finally exit the correction zone and restore the downward trend at the most senior time intervals. In the case of a retest, the day cloud is still the closest resistance at 1.1357-92.

The advantage of the bears in the younger halves has shaken. A slight upward correction allowed the majority of technical indicators on H1 to be adjusted in favor of bulls. However, you need to consider that the key levels remain on the side of the bears. In the case of the completion of the upward correction and the resumption of reduction, the support and benchmark levels for today are S1 (1.1251), S2 (1.1227), S3 (1.1188). The less significant first victory of the players to rise can now be considered as a breakdown and consolidation above the central Pivot-level of the day at 1.1290. After that, the bulls will have new perspectives, the weekly long-term trend of 1.1348 will become the most significant guideline.

At the moment, conditions are emerging for the occurrence of discrepancies but there is no new divergence.

Ichimoku Kinko Hyo (9.26.52), Pivot Points (classic), Moving Average ( 120)