FX.co ★ EUR/USD analysis for February 15 2021 - Broken slope pattern and potential for drop towards 1.2050

Comments by UK prime minister, Boris Johnson

• No decisions have been taken on exact date to reopen schools
• Hoping to do so by 8 March
• We will try to set out a roadmap out of lockdown

Johnson is managing expectations a little before he gets into more detail on plans for the UK to exit lockdown next week. Nothing out of the ordinary so far but there is a degree of optimism going into next week's announcement.

Further Development

Analyzing the current trading chart of EUR/USD, I found that the buyers got exhausted today, which is good sign for further downside movement.

The price broke upside sllope pattern and I see potential for further drop towards 1,2052 and 1,1955.

Watch for selling on the rallies with the first target at 1,2055.

Key Levels:

Resistance: 1,2145

Support levels:1,2052 and 1,1955.