EUR/USD Daily Forecast - 07 February

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Tuesday, Feb 06 2018

EUR/USD Daily Forecast - 07 February

Euro was initially pushed higher in the course of the yesterday's session, but found resistance above 1.2430 level and then pulled back going all the way to 1.2310 area, where it found some amount of support and was pushed higher to a daily closing around 1.2380 area. As for tomorrow, we expect a bit steadier session as there will be no major data releases. Any type of supportive candles around 1.2330 and 1.23 area would be short-term buying signal, while resistive candles above 1.2430 and 1.2450 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 next major resistive point above 1.25 handle.

More in this category: « GBP/USD Daily Forecast - 07 February AUD/USD Daily Forecast - 08 February »

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