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26.02.202106:15 Forex Analysis & Reviews: Forecast for EUR/USD on February 26, 2021

EUR/USD

Yesterday's strong US economic data and rising government bond yields pushed the dollar (currency index) up 0.2%. The index is growing by another 0.15% in today's Asian session. The second estimate of US GDP for the fourth quarter was raised to 4.1% from 4.0% earlier, the volume of orders for durable goods in January grew by 3.4% (0.9% forecast), unemployment reached 730,000 against the forecast of 828,000. The yield on 10-year bonds increased from 1.37% to 1.53%. Add to this the 2.45% stock market crash (S&P 500) manifests itself in all its fullness, a large-scale departure from risk and return to cash. A little later, this money will be invested in new issues of US bonds under the "Biden plan".

Exchange Rates 26.02.2021 analysis

The euro has formed a spike on the four-hour chart - a reversal pattern. Returning to the area under the MACD line (blue indicator, 1.2106) opens the nearest target at 1.2023, followed by 1.1915.

Exchange Rates 26.02.2021 analysis

The price has reached the MACD line (1.2142) on the four-hour timescale, while the Marlin oscillator is ready to enter the downward trend area. Thus, falling below 1.2142 will signal a breakout to the nearest bearish targets.

*Analiza de piață publicată aici este menită să vă sporească conștientizarea, nu pentru a oferi instrucțiuni pentru a efectua un schimb.

Laurie Bailey,
Expert Specializat
Grup InstaForex © 2007-2021
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