EURUSD Daily Forecast Feb 06 2020

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EURUSD: Bearish With Risk To 1.0963 Levels…

The EURUSD maintained a bearish momentum yesterday. Topped at 1.1047 level and bottomed at 1.0992 level. This development leaves the pair targeting the 1.0963 level. A halt is likely, it may test 1.0963 before attempts to break lower. Anyway; Below 10963 aims the 1.0930 level, further down, support comes in the 1.0890 level.

On the upside, immediate resistance comes in the 1.1015 level ahead of 1.1047 level (main). Above 1.1047 sees recovery threats to 1.1095/1.1141 before anther down…

In conclusion: The EURUSD sees downside threats below 1.1015/1.1047 levels…

Support: 1.0992, 1.0963, 1.0930, 1.0890, 1.0885

Resistance: 1.1015, 1.1047, 1.1095, 1.1141, 1.1172

EURUSD Daily Forecast Feb 06 2020Key data/events which may affect EURUSD today:

  • German Factory Orders (MoM) (Dec) at 07:00 GMT. The forecast is to rise by 0.6%, from -1.3% a month earlier.
  • ECB President Lagarde Speaks in Brussels at 10:00 GMT.
  • U.S Initial Jobless Claims at 13:30 GMT. The forecast is to inch down 215K, from 216K in the last week.
  • FOMC Member Kaplan Speaks at 14:15 GMT.