EURUSD intraday technical analysis - 16/02/2018

EURUSD

1.25419 / 1.25425

SUMMARY

Up

TREND

Up trend

SENTIMENT

Bearish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: EURUSD resumed an uptrend extension today, however further upside progress looks limited to the resistive barrier at 1.2555 (R1). Clearance here is required to open way towards to next targets at 1.2605 (R2) and 1.2655 (R3) in potential.
Downwards scenario: If the price does not manage to break our actual resistance level we can expect positive retest of support level at 1.2508 (S1). A break below that level might initiate downwards penetration towards to next supports at 1.2446 (S2) and 1.2389 (S3) in potential.

Resistance levels: 1.2555, 1.2605, 1.2655

Support levels: 1.2508, 1.2446, 1.2389