FX.co ★ Trading Signal for EUR/USD for February 25 - 26, 2021: Buy above 1.2207

The EUR / USD pair managed to break above the technical pattern of the symmetrical triangle, surpassing the Murray 4/8 zone at 1.2207, for now the upward movement of the EUR / USD remains firm.

The Eurodollar gained bullish strength after breaking the strong resistance at 1.2176, which had slowed the rises several times in recent weeks.

After breaking this level, the euro accelerated the upward journey, at this moment it is trading at 1.2224. This upward movement came after confidence data from the Eurozone.

On a technical level, the Euro is above the 21 SMA and above the 200 EMA, both levels are acting as strong support.

On the other hand, there is likely to be a rebound from Murray's 4/8 zone at 1.2207, it could be a good point to buy with targets at 1.2268, Murray's 5/8 level.

If the pair breaks the Murray 4/8 zone and trades below 1.2207, a correction to the 21 SMA and Murray's 3/8 is likely, also the uptrend channel is located there, in this zone we can buy before a technical rebound.

Support And Resistance Levels For February 25 - 26, 2021

Resistance (1) 1.2250

Resistance (2) 1.2305

Resistance (3) 1.2329

Support (1) 1.2187

Support (2) 1.2122

Support (3) 1.2082

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Trading tip for EUR/USD for February 25 - 26, 2021

Buy if rebound above 1.2207 (4/8) with take profit at 1.2268 (5/8), stop loss below 1.2173.

Buy if rebound above 1.2146 (SMA 21 and 3/8) with take profit at 1.2207 (4/8) and 1.2268, stop loss below 1.2110.