EUR/USD Daily Forecast – 25 February

There were no data releases from Eurozone yesterday, with euro continuing to decline. Markets are turned to speculations on future ECB moves. Mario Draghi has two weeks left to decide how to ramp up stimulus in a way that doesn’t upset either his colleagues or investors. When European Central Bank policy makers meet in Frankfurt from March 9-10, they’ll consider whether negative interest rates and 60 billion euros ($67 billion) a month of debt purchases is enough to revive consumer prices.

EUR/USD Daily Forecast – 25 February

Euro was initially pushed lower in the course of the yesterday's session but found area around 1.0950 handle to be supportive enough in order to rebound and break once again above 1.10 handle, but with resistance near 1.1050 level. As for tomorrow, pair is likely to find some amount of support around 1.0950 and 1.0930 level in extension, as it was the case yesterday, while area around 1.1050 level which was previously supportive should offer some amount of resistance, at least initially, and then 1.1080 level in extension. Read more...

Investors speculating on future ECB moves

EUR/USD Daily Forecast – 24 February

Euro tried to go higher in the course of the yesterday's session, but pulled back from 1.1050 area, which was previously supportive, and tested 1.10 handle as a support. Since this a major psychologically important level, pair find some amount of support in this area. As for tomorrow, pair is likely to find some amount of support around 1.0950 and 1.0930 level in extension, if we see break below 1.10 handle, while area around 1.1050 level which was previously supportive should offer some amount of resistance, at least initially, and then 1.1080 level in extension. Read more...