EURUSD analysis 12.02.2020

Analysis based on round-number levels, price channels and modified Elliot Waves

EURUSD

Daily timeframe shows the pair reaching the support level of 1.0890. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness.

Ascending pattern 1-2-3 is forming on the H1 timeframe. The price is within the range of the round important level of 1.0900. Round secondary level 1.0920 was already tested by a supposed wave 1. Aweseome oscillator shows a bullish divergence.

Trading recommendations:

Buy above 1.0925.

Stop Loss: 1.0890.

Target levels: 1.0950 (close 0.5 and move to breakeven); 1.1000.