EUR/USD Daily Forecast – 17 February

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Tuesday, Feb 16 2016

Euro was initially pushed higher the course of the Tuesday's session, but found area around 1.12 handle to be resistive enough, in order for pair to pullback in the US part of the session. As for tomorrow, we believe that US figures and FOMC Meeting Minutes will bring some volatility to the markets. We can expect some amount of support around 1.11 handle, previous resistance and 1.1050 level in extension, while area above 1.12 handle, and 1.1250 handle in extension should offer some amount of resistance.

In long-term trends despite this recent downtrend, we have no interest in selling the pair as long as we are above 1.10 handle. Supportive candles on pullbacks would offer buying opportunity as well as break above recent highs. We believe that pair could aim towards 1.15 handle if we see break above recent highs.

More in this category: « GBP/USD Daily Forecast – 17 February AUD/USD Daily Forecast – 18 February »

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