EUR/USD Daily Forecast - 14 January

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Tuesday, Jan 13 2015

Euro spent most of the yesterday's session in a decline, unable to break above 1.1860 area. It finished the session below 1.18 handle what could be a negative signal. Pair should find some amount of support around 1.1760 level initially tomorrow and 1.1730 in extension, so these would be our short-term buying points.

On the other hand area above 1.1850 level is proving to be too resistive for the fourth session in the row, indicating that there is some amount of resistance above there offering short-term selling opportunity. Long-term looking, we currently have no interest in buying this market since we can expect a lot of volatility and possible further downtrend movement if ECB introduces new monetary measures next week.

More in this category: « GBP/USD Daily Forecast - 14 January AUD/USD Daily Forecast - 15 January »

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