6:25 PM · 2 March 2021

EURUSD bounces off the support at 1.20

The main currency pair started today's session lower, however the second half of the day belongs to the market bulls and there is a chance for EURUSD to generate a demand signal on the D1 interval. Looking at the chart from a technical point of view, price bounced off the horizontal support level at 1.20. If the daily candle closes at the current level or higher - then a bullish hammer formation will appear on the chart. If the upward move will continue in the following days, the next target for the market bulls is located at 1.2180.

EURUSD, interval D1. Source: xStation5

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forex
technical analysis

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