EURUSD Daily Forecast Feb 07 2020


EURUSD: Bearish But Around Support…

As long as 1.1015 resistance holds on a daily closing basis. The EURUSD remains on the downside to 1.0963 levels. A halt is likely, it may test 1.1015 before attempts to break lower. Anyway; below 1.0963 aims the 1.0930 level, further down, support comes in the 1.0890 levels.

On the upside, immediate resistance comes around 1.1015 level ahead of 1.1047 level (main). Above 1.1047 sees recovery threats to 1.1095/1.1140 levels…

In conclusion: The EURUSD continues to face downside threats below 1.1015/1.1047 levels.

Support: 1.0963, 1.0930, 1.0890, 1.0855, 1.10825

Resistance: 1.1015, 1.1047, 1.1095, 1.1141, 1.1172

EURUSD Daily Forecast Feb 07 2020Key data/events which may affect EURUSD today:

  • U.S Nonfarm Payrolls (Jan) at 13:30 GMT. The forecast is to rise by 161K, from 145K a month earlier.
  • U.S Unemployment Rate (Jan) at 13:30 GMT. The forecast is to remain unchanged as the previous month at 3.5%