FX.co ★ EUR/USD analysis for February 22 2021 - Potential for the downside rotation towards 1.2100

Bild reports on the matter

The report says that German chancellor, Angela Merkel, is seeking a four-stage plan to loosen restrictions though she did not disclose the details in a CDU party meeting today. Adding that a working-level group is expected to work out said details tomorrow.

Just keep an eye out for this in the coming days/weeks with the German lockdown set to continue until 7 March although some restrictions such as those on schools, are to be relaxed for certain regions starting from today.

Further Development

Analyzing the current trading chart of EUR/USD, I found that the buyers got exhausted today and the downside rotation would be probably to correct strong upside movement from earlier this morning.