EUR/USD Daily Forecast – 15 January

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Thursday, Jan 14 2016

Euro was initially pushed higher in the course of the yesterday's session, but found area around 1.0940 to be resistive once again and pulled back by the end of the session, thus forming a shooting star which indicates that there is a bearish pressure in the pair. As for tomorrow, trading will depend on US figures. Weaker than expected figures would push pair back above 1.09 handle, with resistances above 1.0940 and 1.0980 level, while better than forecasted data would push pair back to support at 1.08 handle.

On a long-term basis, as long as euro remains within its consolidation range, 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 – 15 January AUD/USD Daily Forecast – 18 January »

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