Forex Analysis & Reviews: Forecast for EUR/USD on February 21, 2022

The euro fell by 39 points on Friday, clearly defining the downward direction, confirmed by a sharp downward reversal of the Marlin Oscillator on the daily scale chart. Since the movement is strong, we expect the support of the 1.1280 target level (February 14 low) to be broken, which coincides with the MACD indicator line. The price drop below the indicated level opens the target at 1.1060.

But today is a public holiday in the US, and although the price almost won back Friday's fall in the morning, we do not expect the price to break above the signal level of 1.1387.

Analysis are provided by InstaForex