FX.co ★ Trading Signal for EUR/USD for February 24 - 25, 2021: Key level 1.2140 - Symmetrical Triangle

The EUR / USD pair in the morning of the American session is trading above the 21 SMA and the 200 EMA in 4-hour charts.

The 1.2176 zone has once again proven to be a strong resistance to bullish aspirations in EUR / USD. This zone of multi-week highs thus becomes the last defense for a new high in the 4/8 Murray zone located at 1.2207.

On the 4-hour chart we can also see the formation of a symmetrical triangle. If the pair breaks below this triangle that is below 1.2143, there could be a slowdown to the 5/8 Murray support zone, at 1.2085.

In addition, in the chart we can see that EUR / USD has an uptrend channel in 4-hour charts. If it breaks the support zone of the channel below 1.2085, there could be a change in trend, and the target will be the psychological zone of 1.20.

Support And Resistance Levels For February 24 - 25, 2021

Resistance (1) 1.2178

Resistance (2) 1.2197

Resistance (3) 1.2216

Support (1) 1.2108

Support (2) 1.2082

Support (3) 1.2036

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Trading tip for EUR/USD for February 24 - 25, 2021

Sell below 1.2140 (SMA 21) with take profit at 1.2101 and 1.2085 (3/8), stop loss above 1.2176.

Buy above 1.2176 (strong resistance) with take profit at 1.2207, stop loss below 1.2130.