EUR/USD Daily Forecast – 19 January

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Monday, Jan 18 2016

Euro spent steadier Monday's session being traded within 60 points, as there were no data releases and with US banks being closed in observance of Martin Luther King's Day. As for tomorrow, we can expect more volatility with ZEW Economic Sentiment figures being released. Any type of supportive candles around 1.08 handle would offer short-term buying opportunity, while resistive candles above 1.0940 level initially and 1.0980 area in extension would be short-term selling signal.

In long-term trends though there is some bullish pressure in the pair 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 – 19 January AUD/USD Daily Forecast – 20 January »

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