EUR/USD Daily Forecast – 22 February
Euro was initially pushed lower in the course of the Friday's session, after US CPI figures, but found area around 1.1060 handle to be supportive enough, in order to rebound and break once again above 1.11 handle by the end of the session, all the way to day's high. As for Monday, we can expect some amount of support around 1.1050 handle, previous resistance and 1.10 level in extension, while area around 1.1180 level, should offer some amount of resistance as it was the case last week.
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. Despite this decline, we would still not start shorting the market as there is significant amount of support at 1.1050 and 1.10 handle. Supportive candles on pullbacks could be offering buying opportunity at the moment.
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