EUR/USD Daily Forecast – 25 January

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Friday, Jan 22 2016

Euro spent most of the Friday's session in a decline, with markets still being influenced by dovish ECB comments regarding future monetary measures. However, are around 1.08 handle still offers some amount of support. As for Monday, we believe that pair is likely to find some amount of support around 1.0750 area, so this would be our short-term buying point, and resistance above 1.0850 and 1.0880 level in extension so this is where we would place short-term selling bids.

In long-term trends, we would remain on the sidelines for this pair as long as we are below 1.1050 area and above 1.07 handle, as there is no clear trend at the moment. But, bearing in mind dovish ECB comments resistive candles on rallies could offer selling opportunity.

More in this category: « GBP/USD Daily Forecast – 25 January AUD/USD Daily Forecast – 26 January »

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