EURUSD Daily Forecast Feb 01 2017

EURUSD, Very Bullish Eyes Further Upside...

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EURUSD, Very Bullish Eyes Further Upside…

The EURUSD continues its bullish momentum yesterday, bottomed at the 1.0684 levels and topped at the 1.0811 levels…

This development leaves the pair targeting the 1.0872 levels where a breach is very likely, If seen, it would target 1.0959, a halt is likely and a reversal may occur, however, above 1.0959 will turn the focus on the 1.1110 levels…

On the downside, support comes at the 1.0774/1.0739 levels ahead of the 1.0684 levels (main), below 1.0684 should weaken recent rise and pave the way to the 1.0594 levels before the next rising….

Conclusion: The EURUSD continues to face upside threats above the 1.0684 levels….

Note: A failure to hold above minor resistance 1.0811 is likely to bring consolidation above 1.0684 levels before the next leg up…

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