EURUSD Daily Forecast Feb 07 2017

EURUSD, Consolidates With Upside Bias...

EURO-Dollar-min

EURUSD, Consolidates With Upside Bias…

Outlook in EURUSD has turned neutral at the moment, the pair remains in a pullback mode as long as trades below the 1.0811 levels, and further down could be seen in EURUSD, but downside below 1.0811 should be contained well by the 1.0684 levels where rebound is likely, however; below 1.0684 will extend the pullback to the 1.0624/1.0594 levels before the next rising, further down, support stands at the 1.0480 levels…

On the upside, immediate resistance comes at the 1.0811 levels, a break is needed on a daily closing basis to restore the upside momentum, If seen, it will target 1.0872 levels, a break will turn the focus on the 1.0959 levels, further upside, resistance stands at the 1.1110 levels.

Conclusion: The EURUSD continues to face corrective threats below the 1.0811 levels, but the pullback move below 1.0811 should be contained well above 1.0684 levels where rebound is very likely…

blank

MARKET DATA

UPCOMING ECONOMIC EVENTS