EUR/USD Daily Forecast – 11 January

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Friday, Jan 08 2016

After better than forecasted US NFP figures, euro was initially pushed lower, going all the way to 1.08 handle, in the course of the Friday's session, but managed to rebound from this area going all the way to 1.09 handle. At the moment 1.0930 level offers some amount of resistance , and with no major data releases on Monday, this is where we expect initial resistance, and 1.0960 level in extension. On the other hand, 1.08 handle should continue to be supportive, so this is where we would consider short-term buying.

In long-term trends, euro remains within its consolidation range, now between 1.07 and 1.1050 handle and until we see break below or above one of these key areas we would stay on the sidelines and wait for a more clear picture, though resistive candles around 1.10 handle would be nice short-term selling signal.

More in this category: « GBP/USD Daily Forecast – 11 January AUD/USD Daily Forecast – 12 January »

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