Indicator analysis. Daily review of EUR / USD on February 14, 2020

The pair continued to move down yesterday and break through the support line 1.0847 (blue bold line). Today, strong calendar news for the dollar is expected at 13:30 UTC. The price may roll back up, so I assume the bears will want to take profits.

Trend analysis (Fig. 1).

The market may begin to move up today with the target of 1.0889, the retracement level of 14.6% (red dashed line). Upon reaching this level, there is a continuation of the upper movement with the target 1.0926, the retracement level of 23.6% (red dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

– Indicator analysis – up;

– Fibonacci levels – up;

– Volumes – up;

– Candlestick analysis – up;

– Trend analysis – up;

– Bollinger lines – down;

– Weekly schedule – up.

General conclusion:

An upward movement is expected today with the target of 1.0889, the retracement level of 14.6% (red dashed line).

An unlikely but possible scenario is from the resistance line 1.0846 (blue bold line), there is a continuation of work down with the target 1.0794, the lower border of the Bollinger line indicator (blue dashed line).

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