EUR/USD Daily Forecast - 02 February

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Friday, Jan 30 2015

After it initially aimed higher, euro pulled back in the course of the Friday's session after weaker than expected Eurozone CPI figures. As for Monday, since it is beginning of the week we expect a bit steadier session in which any type of resistive candles above 1.1360 level would indicate short-term selling opportunity

, while supportive candles around 1.1260 level and 1.1230 area would be short-term buying signal. Long-term looking pair should head towards 1.10 handle given enough time, so we have no interest in buying this pair, but we would perhaps wait for it to go a bit higher before placing larger selling bids.

More in this category: « GBP/USD Daily Forecast - 02 February AUD/USD Daily Forecast - 03 February »

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