EUR/USD technical analysis for 26.02.2019


The EUR/USD pair keeps trading in a horizontal area located between the levels of 1.1316 - 1.1371 after a three wave bounce from the swing low at the level of 1.1234. The level os 1.1371 is so far too strong for the bulls to break through it, so plenty of candles with long upper shadows are now being made. This indicates, that the bears are active at this level and are trying to push the prices lower. Any violation of the lower boundary of the consolidation zone located at the level of 1.1316 will only make the down move faster.

EUR/USD Technical Analysis for 21.02.2019


The EUR/USD bulls have managed to push the prices towards the level of 1.1371 which is 3 pips below the 50% Fibonacci of the previous swing down. The corrective move upwards might have been completed as the market is now in a typical zone for the correction and the Bearish Engulfing candlestick pattern has been done. This indicates the bears are defending the 50% Fibo and will try to push the prices back down again. The nearest support is seen at the level of 1.1321 and 1.1309.


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