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.
EUR/USD Daily Forecast - 21 February
Euro spent yesterday's session in decline going all the way to 1.2320 level, due to weak ZEW Economic Sentiment figures, where it found some amount of support and managed to rebound slightly and finish the session around 1.2340 area. Tomorrow we would pay attention to PMI figures and FOMC Meeting Minutes. Any type of supportive candles around 1.23 and 1.2280 area would be short-term buying signal, while resistive candles above 1.2380 and 1.2430 level would be short-term selling opportunity.
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