EUR/USD Daily Forecast – 12 January

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Friday, Jan 12 2018

EUR/USD Daily Forecast – 12 January

Euro was pushed higher in the course of the yesterday's session going all the way to 1.2050 handle on annoucement that ECB is considering on tapering its stimulus program. However, pair found some amount of resistance there and finished the session around 1.2030 level. As for tomorrow, we would be focused on US CPI and Retail Sales figures. Any type of supportive candles around 1.20 and 1.1980 area would be short-term buying signal, while resistive candles above 1.2080 and 1.2120 level would be short-term selling opportunity.

In long-term trends, we would be buyers for this pair. We expect plenty of support around 1.15 handle, and we still expect a lot of struggle above 1.20 area, which proved to be the case in the course of this week.

More in this category: « GBP/USD Daily Forecast – 12 January AUD/USD Daily Forecast – 16 January »

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