FX.co ★ Trading Signal for EUR/USD for February 15 - 16, 2021: Key level 1.2124

The EUR / USD pair remains consolidated today February 15, with little volume of operations because today is a holiday in the United States as a result of Presidents' Day. This implies less liquidity and less volatility in a large number of markets, so there will not be as many entry opportunities as usual.

The 200 EMA in 4-hour charts is located at 1.2151, it continues to limit the rise of the EUR / USD, this zone has become a strong resistance, a break and respective consolidation above this level, the next target is 1.2207.

On the other hand, the SMA of 21 in 4-hour charts is located at 1.2124, if the price of the EUR / USD trades below that level, we expect a downward movement to the 1.2085 area, the 3/8 Murray level and , stronger bearish pressure could take it to support at 1.1962 (2/8).

Our recommendation is to sell below the SMA of 21 and below the EMA of 200, as the eagle indicator is showing an overbought signal and it is very likely that in the coming days we will see a correction of the pair.

Market sentiment for today February 15 shows 59% of operators who are selling the EUR / USD pair, this is a sign that in the coming days we can see a correction movement towards the 1.2050 area.

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Support And Resistance Levels For February 15 - 16, 2021

Resistance (1) 1.2164

Resistance (2) 1.2195

Resistance (3) 1.2224

Support (1) 1.2095

Support (2) 1.2041

Support (3) 1.2009

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Trading tip for EUR/USD for February 15 - 16, 2021

Buy above 1.2151 (EMA 200) with take profit at 1.2207 (4/8), stop loss below 1.2115.

Sell below 1.2124 (SMA 21) with take profit at 1.2085 (3/8) and 1.2044, stop loss above 1.2155.

Sell if pullback at 1.2150 (strong resistance and EMA 200) with take profit at 1.2085 and 1.2044, stop loss above 1.2182.