EUR/USD Daily Forecast - 03 February

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Monday, Feb 02 2015

Euro once again tried to break higher in the course of the yesterday's session but failed to hold onto gains around 1.1360 level. Since only Spanish Unemployment Change figures are scheduled for a release tomorrow, we expect a steadier session in which pair is likely to find support around 1.1260 level and resistance above 1.1370 area

, initially, and near 1.14 handle in extension so these would be our short-term buying and selling points. Long-term looking, we have no interest in buying this pair but would rather use this rally as just another buying opportunity, since pair is likely to hit 1.10 handle given enough time.

More in this category: « GBP/USD Daily Forecast - 03 February AUD/USD Daily Forecast - 04 February »

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