RobertPapon

Analysis and Forecast EUR / USD - Weekly review (22.02-26.02)

FX:EURUSD   Euro/U.S. Dollar
The outlook for EUR / USD:
Declines have occurred in the last week, we can be treated as a correction to the earlier increases. Currency pair found support at the levels of 1.1066 and 1.1071, which from a technical point of view we can consider the formation of a double bottom . Considering the reaction of the demand side during Thursday's and Friday's session, I will risk saying that the Eurodollar will try to work towards recent highs. If my suspicions are correct, this demand should eventually break the key resistance at 1.1160 and head towards 1.1246 level. If this resistance and will be defeated, the demand side will face a chance to return to the last peak (1.1376).


Alternative version of a return to the recent lows and then after their defeat, Eurodollar will head towards support at 1,10-1,1045
agree with you. but, it seems we need power to have bullish movement. not yet but your alternative is near to real.
+1 Reply
RobertPapon PooyaSalehipour
1,1050-1,11 zone is important for me to support. In this area there is a lot of long orders. For me, the basic scenario is an upward movement.
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