FX.co - EUR/USD analysis for February 21, 2022 - Strrong rejection of the key resistance in the background

2022-02-21T13:39:59

Relevance until2022-02-22

Technical analysis:

EUR/USD analysis for February 21, 2022 - Strrong rejection of the key resistance in the background

EUR/USD has been trading downside this morning and I see potential for bigger drop towards the level of 1,1150.

Trading recommendation:

Due to rejection of the strong resistance level at the price of 1,1390, I see potential for the downside movement.

Watch for selling opportunities with on the intraday rallies with the downside objectives at 1,1280 and 1,1150.

Additionally, there is potential for the outisde daily range, which can be another sign of strong supply.

Key support is set at the price of 1,1270

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for February 21, 2022 - Strrong rejection of the key resistance in the background