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FX.co ★ Indicator analysis: Daily review on EUR / USD on February 10, 2020

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Forex Analysis:::2020-02-10T06:59:14

Indicator analysis: Daily review on EUR / USD on February 10, 2020

The pair continued to move down on Friday, breaking the support line of the downward channel 1.0960 (red bold line), and the news played a significant role in this. Today, strong calendar news is not expected. The price may roll back up.

Trend analysis (Fig. 1).

Today, a retraceable upward movement is possible with the target of 1.0986, the retracement level of 14.6% (red dashed line).

 Indicator analysis: Daily review on EUR / USD on February 10, 2020

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - down.

General conclusion:

Today, a retracement upward movement is expected with the target of 1.0986, the retracement level of 14.6% (red dashed line).

An unlikely but possible scenario is from the resistance line 1.0956 (red bold line), the price will go down to the lower fractal 1.0880 (blue dashed line).

Analyst InstaForex
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