EUR/USD Daily Forecast - 11 February

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Tuesday, Feb 10 2015

Euro went back and forth during the yesterday's session find area around 1.1350 level to be to resistive at the moment and rebounding from 1.1270 area for the second day in a row. Tomorrow's session should also be less volatile as there will be no major data releases both from Eurozone and USA.

Any type of resistive candles above 1.1350 level, initially in the session, and 1.1380 area in extension would offer short-term selling opportunity. On the other hand, supportive candles around 1.1250-70 level would be short-term buying signal. In long-term trends, despite occasional rebounds we have no interest in buying this pair as there is plenty of resistance at 1.15 handle and going all the way to 1.20 handle so selling on rallies would be our strategy at the moment.

More in this category: « GBP/USD Daily Forecast - 11 February AUD/USD Daily Forecast - 12 February »

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