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EUR/USD Technical Analysis for 21.02.2019

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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.

EUR/USD technical analysis for 20.02.2019

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The EUR/USD bulls have managed to break through the technical resistance zone between the levels of 1.1321 - 1.1342 and the price has made a new local high at the level of 1.1357. Currently, the bears are testing the breakout from above (the level of 1.1341 and due to the overbought market conditions the bears might extend the pull-back lower towards the level of 1.1330 and 1.1324. Despite the positive momentum, the short-term outlook remains bearish and any spikes up are being considered as an upwards corrections in a downtrend.

Trading plan Forex for 08.02.2019

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The Asian stock market is bitter after the US-China trade negotiations.
The hopes for trade agreements between the US and China were somewhat dimmed when yesterday US President Trump said he would not meet with Chinese President Xi during his visit to Asia. President's adviser Kudlow confirmed that between the parties there are still significant differences and a "long way to go". The information aroused moderate reactions in the form of falls in USD / JPY, AUD and CNH. However, it must be remembered that negotiations are still underway with the next round scheduled for February 11.

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