EUR/USD Daily Forecast – 25 February
Euro was initially pushed lower in the course of the yesterday's session but found area around 1.0950 handle to be supportive enough in order to rebound and break once again above 1.10 handle, but with resistance near 1.1050 level. As for tomorrow, pair is likely to find some amount of support around 1.0950 and 1.0930 level in extension, as it was the case yesterday, while area around 1.1050 level which was previously supportive should offer some amount of resistance, at least initially, and then 1.1080 level in extension.
On a long-term basis, despite this decline, we would first like to see daily closing below 1.10 handle before starting shorting market as this would lead toward 1.08 handle. Buying is not an option at the moment, and we would first need to see break above 1.12 handle before we would consider placing any buying bids.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419