Growth to 1.2190-1.2200 is possible

10.02.2021

Daily chart: the euro is trying to gain a foothold above the middle Bollinger band (1.2106), which allows the bulls to count on continued growth in quotations and to the upper line (1.2213). However, undue optimism can be punished because ADX reacted with a fall to yesterday’s massive rise in the pair. This may indicate a missing trend potential.

Н4: the local bullish potential of the ADX is at a high level, which will contribute to the further formation of an upward wave in the direction of the resistance zone 1.2190.

Н1: the unconditional bullish trend continues on the hourly chart. The immediate objectives of buyers are 1.2139 and 1.2150. But it seems that it is quite possible to expect the refinement of the zone 1.2190-1.2200.

Conclusions: growth to 1.2190-1.2200.
Trading decisions: purchases to 1.2190-1.2200.