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07.02.202217:25 Forex Analysis & Reviews: EUR/USD Hot Forecast on 7 February, 2022

Exchange Rates 07.02.2022 analysis

EUR/USD rose above 1.1450 on Monday but struggled to gather bullish momentum. The greenback is staying resilient against its rivals at the beginning of the American session as investors remain cautious with Wall Street's main indexes trading after the opening bell.

EUR/USD is trading below the ascending regression channel coming from late January but the Relative Strength Index (RSI) indicator on the four-hour chart holds above 60, suggesting that the latest decline is a technical correction.

On the downside, 1.1400 (Fibonacci 23.6% of the latest uptrend, psychological level) aligns as first support. In case, this level turns into resistance, additional losses toward 1.1350 (Fibonacci 38.2% retracement) and 1.1320 (200-period SMA) could be witnessed.

Resistances are located at 1.1480 (static level), 1.1500 (psychological level, static level) and 1.1550 (static level).

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

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