EUR/USD Daily Forecast – 18 January

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Friday, Jan 15 2016

Euro spent Friday's session in an uptrend, bouncing out from 1.0850 handle and being further supported by weaker than expected US figures. However, pair found area around near 1.10 handle to be too resistive at the moment and pulled back slightly by the end of the session.

With no major data releases on Monday, we can expect a bit steadier session, in which pair is likely to find support around 1.0850 level and resistance at 1.10 handle so these would be our short-term buying and selling points. In long-term trends despite this rebound we have no interest in buying this pair as long as we do not see decisive break above 1.1050 handle. Selling is not an option at the moment, as 1.08 handle offers plenty of support.

More in this category: « GBP/USD Daily Forecast – 18 January AUD/USD Daily Forecast – 19 January »

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