EUR/USD Daily Forecast - 20 February

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Tuesday, Feb 20 2018

EUR/USD Daily Forecast - 20 February

Euro tried to break higher in the course of the yesterday's session but found resistance above 1.2420 level and then pulled back, only to find area around 1.2380 area to be supportive enough for pair to rebound and finish the session in a neutral tone around 1.24 handle. Tomorrow we would pay attention to ZEW Economic Sentiment figures. Any type of supportive candles around 1.2350 and 1.2330 area would be short-term buying signal, while resistive candles above 1.2450 and 1.25 level would be short-term selling opportunity.

In long-term trends, we would be buyers for this pair, despite this pullback. 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 - 20 February AUD/USD Daily Forecast - 21 February »

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