EUR/USD Daily Forecast – 09 February

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Monday, Feb 08 2016

Euro was initially pushed lower in the course of the yesterday's session, but found area around 1.1080 level to be supportive enough in order to rebound and come near 1.12 handle by the end of the session. With no major data releases on Tuesday we can expect a bit steadier session. We can expect some amount of support around 1.1080 area, yesterday's low, and resistance above 1.1250 handle, last week's high.

In long-term trends, ever since we broke consolidation area, we have no interest in selling this pair. Supportive candles around 1.10 handle could offer buying opportunity as well as break above Thursday's highs. If pair breaks above 1.1250 handle it could easily continue all the way to 1.15 handle.

More in this category: « GBP/USD Daily Forecast – 09 February AUD/USD Daily Forecast – 10 February »

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