EURUSD Daily Forecast Feb 04 2020

EURO dollar 6598554 e1563323497881 Won

EURUSD: Faces Pullback Threats With Caution…

The outlook in EURUSD has turned neutral at the moment. Resistance comes at 1.1095 level while support comes at 1.1058 levels. On the upside, above 1.1058 on a daily closing basis could mean a return to 1.1095 level. A break will restore the upside momentum, aim the 1.1125 level, further upside, resistance comes in the 1.1160 level.

On the downside, stability below 1.1095 will suggest a corrective pullback, but the corrective pullback below 1.1095 should be contained well by 1.1035/1.1000 level where a strong rebound is very likely. However; below 1.1000 will revers risk to the downside to 1.0970/1.0943 levels.

In conclusion: The EURUSD faces pullback threats below 1.1095 levels with caution…

Support: 1.1058, 1.1035, 1.1000, 1.0970, 1.0943, 1.0900

Resistance: 1.1095, 1.1125, 1.1160, 1.1200, 1.1228, 1.1270

Key data/events which may affect EURUSD today:

  • President Donald Trump will deliver his third State of the Union Address on (Tuesday at 21:00 EST). (Wednesday at 02:00 GMT)…Live from hereĀ 

EURUSD Daily Forecast Feb 04 2020