EUR/USD Daily Forecast – 12 February

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Thursday, Feb 11 2016

Euro was pushed higher in the course of the yesterday's session, testing 1.1370 level to be resistive enough in order to pullback by the end of the session. However, this pullback should just be seen as a buying opportunity. Tomorrow, we can expect some amount of support around 1.1250 handle, previous resistance and yesterday's low, and resistance above 1.14 handle, and 1.1450 handle in extension.

In long-term trends, ever since we broke consolidation area, we have no interest in selling this pair, especially with yesterday's hammer. Supportive candles on pullbacks would offer buying opportunity as well as break above Tuesday's highs. We believe that pair could now aim towards 1.15 handle.

More in this category: « GBP/USD Daily Forecast – 12 February AUD/USD Daily Forecast – 15 February »

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