FX.co ★ Indicator analysis. Daily review of the EUR/USD currency pair for February 23, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.2156 (closing of yesterday's daily candle) will try to continue moving upwards with the target of 1.2234 - the historical resistance level (blue dotted line). After testing this level, the price can continue to work upward with the target of 1.2274 - the 85.4% retracement level (yellow dashed line).

Figure: 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - up;
• Fibonacci levels - up;
• Volumes - up;
• Candlestick analysis - down;
• Trend analysis - up;
• Bollinger lines - up;
• Weekly chart - up.

General conclusion:

Today, the price from the level of 1.2156 (closing of yesterday's daily candle) will try to move upwards with the target of 1.2234 - the historical resistance level (blue dotted line). After testing this level, the price can continue to work upward with the target of 1.2274 - the 85.4% retracement level (yellow dashed line).

Unlikely scenario: the price from the level of 1.2156 (closing of yesterday's daily candle) will try to move upwards with the target of 1.2172 - the resistance level (blue bold line). After testing this level, the price can continue to work downward with the target of 1.2063 - the 38.2% retracement level (red dotted line).