FX.co ★ Indicator analysis. Daily review for the EUR/USD currency pair on February 1, 2021

Trend analysis (Fig. 1).

On Monday, the market from the level of 1.2135 (closing of last Friday's daily candle), while moving up, may test the resistance level - 1.2176 (the blue bold line). If this level is tested, the price may continue to move up with a target of 1.2234 – the historical resistance level (blue dotted line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - up
• Fibonacci levels - up
• Volumes - up
• Candlestick analysis - up
• Trend analysis - up
• Bollinger bands - down
• Weekly schedule - up

General conclusion:

Today, the price from the level of 1.2135 (closing of last Friday's daily candle), while moving up, may test the resistance level - 1.2176 (the blue bold line). If this level is tested, the price may continue to move up, with a target of 1.2234 – the historical resistance level (blue dotted line).

Alternative scenario: from the level of 1.2135 (closing of last Friday's daily candle), the price may start moving down to the historical support level - 1.2073 (the blue dotted line). In case of testing this level, the price may continue to move down with a target of 1.2063 – a pullback level of 38.2% (red dotted line).