FX.co ★ Forecast for EUR/USD on February 9, 2021

EUR/USD

We received unexpected news yesterday: Tesla acquired bitcoins worth $1.5 billion and will subsequently operate them on stock exchanges, exchanging them for real values (gold, funds, etc.), and may also sell electric cars in some volumes for this cryptocurrency. Bitcoin soared 15.98% yesterday, adding more than 3% this morning. The Russell2000 stock index, which includes US second-tier stocks, grew by 2.50%, government bonds were sold off, in particular, the yield on 5-year securities increased from 0.469% to 0.482%, the euro itself, however, did not grow much, only 9 points, but broke the technical reversal picture. The situation of a strong growth of interest in risk is evident. This situation can be changed, perhaps, only if the US finally adopts a budget, increased by 1.9 trillion.

The price should overcome the last resistance on the daily chart - the MACD line at 1.2080, afterwards it will go to the target level of 1.2190 (peak on January 22). Succeeding growth to the December 17 high (1.2272) is possible.

The price went above the balance and MACD indicator lines on the four-hour chart, while Marlin is in an active growth phase. The price needs to rise above the signal level of 1.2080 in order to generate a signal to buy the euro.