EUR/USD Daily Forecast – 20 January

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Tuesday, Jan 19 2016

Euro was initially pushed lower in the course of the session on Tuesday, but found area around 1.0860 level to be supportive enough in order to rebound by the end of the session all the way to 1.0930 area. As for tomorrow, with no major data releases from Eurozone, we would be focused on US figures. Pair is likely to find support around 1.0850 level and resistance above 1.0980 area so these would be our short-term buying and selling points.

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 – 20 January AUD/USD Daily Forecast – 21 January »

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