01.03.202110:13 Analytische Bewertungen Forex: EURUSD holding above ascending trendline support! Bounce Incoming!

Exchange Rates 01.03.2021 analysis

Price holding above ascending trendline support. A short term bounce above 1st support at 1.20622 towards 1st resistance at 1.21082 can be expected. Stochastic testing support where price reacted in the past as well.

Trading Recommendation

Entry: 1.20622

Reason for Entry:

78.6% Fibonacci retracement, ascending trendline support

Take Profit: 1.21082

Reason for Take Profit:

23.6% Fibonacci retracement

Stop Loss: 1.20233

Reason for Stop Loss:

Recent swing low

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Dean Leo
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