EUR/USD analysis for February 28, 2019

EUR/USD has been trading upwards. The price tested the level of 1.1417. Bullish momentum is maintained.


We found the upward breakout of 1-day resistance at 1.1395, which confirms a further uptrend. I also found that bullish divergence in the background did set the bullish tone that EUR/USD is currently trading with. Key short-term resistance is seen at the price of 1.1511 and the support is at 1.1236.

Trading recommendation: We are bullish on EUR/USD from 1.1415 with a target at 1.1510. Protective stop is set at 1.1360.

The material has been provided by InstaForex Company -