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EUR/USD Daily Forecast - 23 January

Thursday, Jan 22 2015

Euro sharply fell after ECB yesterday announced its asset purchase program slamming all the way below 1.14 handle. Though there will be data releases tomorrow, we expect that markets will continue to weigh on ECB decision. Pair is likely to find support around 1.13 handle, so this would be our short-term buying point

, and resistance above 1.1460 level, previous support, so this is where we would consider selling the market. On a long-term basis, buying is not an option. We actually believe that this pair will extend its downtrend all the way to 1.10 handle, where we can expect some amount of support, being round psychologically important figure.

More in this category: « GBP/USD Daily Forecast - 23 January AUD/USD Daily Forecast - 26 January »

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