EUR/USD Daily Forecast – 26 January

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Monday, Jan 25 2016

Euro was pushed higher in the course of the yesterday's session finding area around 1.08 handle to be supportive enough in order to rebound. However, with no data releases trading was in tighter range with resistance near 1.0850 level. We cannot expect any larger movements tomorrow as well. At the moment, pair has initial support around 1.0780 level and 1.0750 area in extension, while we can expect resistance around Friday's highs at 1.0880 level.

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 – 26 January AUD/USD Daily Forecast – 27 January »

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