EURUSD Trendlines and Fibonacci Update

2026-02-09 · Forex · QuoteReporter

EURUSD Trendlines and Fibonacci Update

Published: February 09, 2026

Technical Analysis

1. Market Overview:
The EURUSD pair is currently trading at 1.18605, showing a strong uptrend across all short, medium, and long-term moving averages. The pair has shown steady growth over the past year and appears to be maintaining its momentum.

2. Trend Analysis:
The short-term trend, indicated by the 21-day moving average (MA21), is in an uptrend, with the current price above the MA21 at 1.17783. The medium-term trend, indicated by the 50-day moving average (MA50), is also bullish, as the current price surpasses the MA50 at 1.17336. The long-term trend, represented by the 200-day moving average (MA200), maintains the same bullish sentiment, with the current price above the MA200 at 1.16195.

3. Support and Resistance Analysis:
Support 1 at 1.17787 (20d) indicates a recent level from which the price has bounced back, making it a key level to monitor for potential buying opportunities if the price retraces. Support 2 at 1.16196 (200d) and Support 3 at 1.15846 (50d) represent more substantial historical levels where buying pressure has previously overcome selling pressure. These levels may serve as strong buy zones during larger retracements.

Resistance 1 at 1.20973 (200d) is the first hurdle the price needs to overcome to continue its upward trajectory. Resistance 2 (1.21727) and Resistance 3 (1.22445) are significant levels that have previously capped the price advancement and could be potential sell zones or profit-taking areas for traders.

For traders, the most critical levels to watch would be the immediate support and resistance levels (Support 1 and Resistance 1) for short-term trading decisions, as well as the 200-day levels (Support 2 and Resistance 1) for long-term strategies.

4. Fibonacci Retracement Analysis:
The Fibonacci retracement levels indicate potential support and resistance levels within the trend. The 23.6% retracement level at 1.16753 could act as a support level during a minor pullback. More significant retracements could find support at the 38.2% and 50.0% levels, which are 1.14237 and 1.12204, respectively.

5. Overall Technical Outlook:
The overall technical outlook for EURUSD is bullish. This is due to the consistent uptrend across all short-term, medium-term, and long-term moving averages. The current price is above all these averages, indicating a strong upward momentum. However, traders should monitor the indicated support and resistance levels for potential reversals or continuations of the trend. The Fibonacci levels further provide potential target levels for the continuation of the bullish trend.

Fibonacci Retracement Levels