EUR/USD analysis for February 01 2021 - First downside target at the price of 1.2090 reached, potential for second target at 1.2060

UK PM Johnson: There is still a risk of the virus getting out of control again Comments by UK prime minister, Boris Johnson Infections are still at a high level But there are some signs of flattening in infection rates Confident that there is enough supply for second vaccine shot within 12 weeks Confident that all vaccines provide high protection against all variants

Johnson is out to manage expectations as UK virus cases start to ease and the vaccine rollout so far is progressing rather well. That is a good sign for the UK economy on hopes that it could really bounce back more strongly in late Q2 perhaps.

Further Development

Analyzing the current trading chart of EUR/USD, I found that EUR reached my first downside target from Friday at the price of 1,2093 but that is heading towards second downside target at 1,2060 and 1,2000.

Key Levels:

Resistance: 1,2095

Support level: 1,2060