On a long-term basis, as long as 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 as well as break below yesterday's lows.
EUR/USD Daily Forecast – 14 January
Euro was initially pushed lower in the course of the yesterday's session, but found area around 1.08 handle to be to supportive enough and after weaker than expected US crude oil figures spent rest of the session in an incline, with a resistance around 1.0880 level. With no major data releases tomorrow, pair is likely to find support around 1.08 handle once again, while resistance is set above 1.09 level, at 1.0940 area.
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