EUR/USD Daily Forecast – 15 February

From Eurozone on Friday, German and Euro area GDP data was published. Seasonally adjusted GDP rose by 0.3% in both the euro area (EA19) and the EU28 during the fourth quarter of 2015, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2015, GDP grew by 0.3% and 0.4% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.5% in the euro area and by 1.8% in the EU28 in the fourth quarter of 2015, after +1.6% and +1.9% respectively in the previous quarter.

EUR/USD Daily Forecast – 15 February

Euro was pushed lower in the course of the Friday's session, testing 1.12 level as a support, with pair rebounding . However, this pullback should just be seen as a buying opportunity, as long as pair is above 1.10 handle. On Monday, we can expect some amount of support around 1.12 handle, previous resistance and Friday's low, and resistance above 1.13 handle, and 1.1350 handle in extension. Read more...

EUR/USD Weekly Forecast – 15 February – 19 February

Events that marked the week:

Tuesday's session brought German Industrial Production and Trade Balance figures from Eurozone. In December 2015, production in industry in Germany was down 1.2% from the previous month on a price, seasonally and working day adjusted basis, thus missing forecasts on 0.2% increase. In November 2015, the corrected figure shows a decreased of 0.1% (primary –0.3%) from October 2015. In December 2015, production in industry excluding energy and construction was down by 1.1%. Within industry, the production of capital goods decreased by 2.6% and the production of consumer goods by 1.4%. The production of intermediate goods showed an increased 0.8% .Energy production fell by 3.0% in December 2015 and the production in construction decreased by 0.2%.