EUR / USD Technical Analysis Recommendations on February 27

EUR / USD pair

Today's economic calendar contains statistics with an average and low degree of importance. For today's more important events, we can only note on the speech of the Fed Chairman at 15:00 London time.

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Yesterday, the players on the rise still managed to get out of the consolidation zone and tested the resistance levels of 1.1374 - 1.1402 (daily Kijun + daily Senkou Span B + weekly Tenkan). Today, the result will be formed based on the outcome of the activity. Overcoming the levels will open the way to new upward goals, which in this case, the following resistance is now located in the area of 1.1441-47 (daily Senkou Span A + weekly Fib Kijun + monthly Kijun). Formation of a rebound in this place will return the pair to support the daily cross of 1.1341-19 (daytime Fib Kijun + Tenkan).

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After the update of the maximum and testing of resistance, the rise was replaced by a corrective decline. To date, the depth of the correction as led the pair to the first important support of 1.1379, which was the central Pivot day level. The players on the rise is now a good reason to complete the decline. Thus, they will preserve the chances for a quick and active continuation of the rise. The breakdown of support at 1.1379 the technical indicators on H1 support the development of correction in the current situation, allowing players to go down to the next important level of 1.1351, which was the weekly long-term trend. A fixation below 1.1351 can significantly change the current balance of forces and form a rebound from the encountered resistances at higher time, led by the weekly Tenkan at 1.1402).

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There are no new divergences. It may be noted that yesterday the pair completed the first target of the divergence of February 18 on stochastics. The next guideline is now the maximum extremum of 1.1514.

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

The material has been provided by InstaForex Company - www.instaforex.com

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