EUR/USD Daily Forecast - 16 January

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Thursday, Jan 15 2015

Euro sharply fell in the course of the session on Thursday, as SNB unexpectedly announced discontinuation of minimum exchange rate per euro. Pair went all the way to 1.16 handle around which it finished the session. This move can be interpreted as way of SNB protecting itself from possible ECB measures that could bring euro further down

and with being the case, in long-term trends, we have no interest in buying this pair, but would be massive sellers with a target set at 1.10 level. As for tomorrow we would pay attention to US figures, with pair likely to find short-term support around 1.1550 level, and resistance above 1.1670 area, so these would be our short-term buying and selling points.

More in this category: « GBP/USD Daily Forecast - 16 January AUD/USD Daily Forecast - 19 January »

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