EURUSD Technical Analysis


EURUSD pair is straining for a bullish continuation as 1.2500 still within grasp. Peer into the 7 February EURUSD Technical Analysis for more details.

7 February, GKFX – EURUSD has weakened in recent days, but buyers are fighting hard to make sure the pair doesn’t spend much time below 1.2350. After the recent bout of risk aversion in the markets, Euro bulls will be looking to get the trend moving back into new territory, but they’ll have to close the gap to 1.2515 first.

The ECB will be holding their Non-Monetary Policy Meeting today at 08:00 GMT in Frankfurt, where the governing council of the European Central Bank will be talking with Michel Barnier, the Chief Brexit Negotiator for the UK’s Article 50 withdrawal from the EU.

7 February EURUSD Technical Analysis

The Tokyo session gave EUR/USD time to think, with price ranging between 1.2377 and 1.2392, with intraday swing support/resistance at 1.2370 and 1.2402. H4 charts show bullish potential still in play, with price battling between the recent highs near 1.2520 and the lows at 1.2340. Daily charts are still very bullish, with price trading comfortably above the 34 EMA and 200-day SMA.

Today’s pivot points:

R2: 1.2494

R1: 1.2435

PP: 1.2375

S1: 1.2316

S2: 1.2255

Disclaimer

This article 7 February EURUSD Technical Analysis was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

    Share Your Opinion, Write a Comment