wrapper

EUR/USD Daily Forecast - 13 February

Tuesday, Feb 13 2018
EUR/USD Daily Forecast - 13 February

There were no data releases from Eurozone yesterday. The EURUSD bearish run seems to be showing signs of tiredness as the pair seems to have found some support in the mid 1.22s region over the last couple of days. This happened last Friday as well as the lack of fundamentals and economic data in both the Eurozone and the US seems to have hit the pair and this led to some consolidation and ranging. But this consolidation has been happening within a tight range which means that the pair is trying to find a base over the last couple of days. This is happening in a region which is known to be a support region and that is why we believe that the pair is forming a base and preparing itself for a bounce in the coming days.

The dollar continues to be inherently strong and we do not think that the downtrend has changed and reversed for the good but this bounce might only be a correction of the downtrend. The move lower so far has been quite slow over the last week or so but it has been steady. This has happened due to the inherent strength in the dollar which has been throwing up some strong data in the last few weeks and this has increased the anticipation of further rate hikes from the Fed in the coming months. Already, the market has been pricing in 3 rate hikes for the year but as the incoming data gets better, the market has begun to expect more than 3 rate hikes and this has led to the strength in the dollar.

 

There will be no major data releases both from Eurozone and the USA tomorrow, so we can expect a bit steadier session. 

More in this category: « GBP/USD Daily Forecast - 13 February AUD/USD Daily Forecast - 14 February »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.