EURUSD Daily Forecast: February 20
EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.1275 but whipsawed to the upside and closed higher at 1.1339. These facts confirm two things. First, 1.1270 – 1.1215 region remains a key and strong support and good place to buy. Secondly, the bullish pin bar scenario is valid targeting higher resistances. The bias is bullish in nearest term testing 1.1400 region. A clear break and daily close above that area would retest 1.1500 – 1.1570 key resistance area which remains a good place to sell (note that the major trend remains bearish). Immediate support is seen around 1.1310. A clear break below that area could lead price to neutral zone in nearest term testing 1.1270 – 1.1215 key support area.
Source: https://fxinstructor.com/blog/eurusd-daily-forecast-february-20-7
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