FX.co ★ Technical analysis of EUR/USD for February 19-25

Trend analysis

EUR/USD may continue moving upward this week, rising from 1.0776 (closing price of the last weekly candle) to the 50% retracement level of 1.0861 (red dashed line). The pair may go further up after testing the level.

Fig. 1 (weekly chart)

Comprehensive analysis:

Indicator analysis - upward

Fibonacci levels - upward

Volumes - upward

Candlestick analysis - upward

Trend analysis - upward

Bollinger bands - downward

Monthly chart - upward

Conclusion: The indicators point to an upward movement in EUR/USD.

Overall conclusion: The pair will have a bullish trend, with no first lower shadow on the weekly white candle (Monday - upward) and a second upper shadow (Friday - downward).

Therefore, during the week, euro will climb from 1.0776 (closing price of the last weekly candle) to the 50% retracement level of 1.0861 (red dashed line). It will increase further after testing the level.

Alternatively, euro could rise from 1.0776 (closing price of the last weekly candle) to the 50% retracement level of 1.0861 (red dashed line), followed by a pullback downward.