EURUSD Daily Forecast Feb 02 2017

EURUSD, Bullish Despite Hesitation!

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EURUSD, Bullish Despite Hesitation!

Outlook in EURUSD remains on the upside as long as 1.0684 support holds on a daily closing basis, resistance comes at 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 1.0739 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 with risk to the 1.0872/1.0959 levels, below 1.0684 sees corrective threats to the 1.0594 levels before the next rising.

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