EUR/USD Daily Forecast - 13 January

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Monday, Jan 12 2015

Euro went back and forth during the uneventful Monday's session. Pair initially aimed higher but found area around 1.1870 level to be too resistive at the moment in order to pullback, all the way to below 1.18 handle, but then once again rebound and finish the session around 1.1840 level.

With no major data releases tomorrow we can expect a similar session in which pair is likely to find support around 1.1760 level, so this would be our short-term buying point and resistance above 1.1880 area where we would sell the pair. In long-term trends, we would wait for decisive break below 1.18 handle in order to resume selling of the pair. Any gains should be limited by 1.20 handle, so buying is not an option at the moment.

More in this category: « GBP/USD Daily Forecast - 13 January AUD/USD Daily Forecast - 14 January »

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