EURUSD Daily Forecast Feb 10 2017

EURUSD, Short Term Bearish!

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EURUSD, Short Term Bearish!

The EURUSD maintained a bearish momentum yesterday, topped at the 1.0708 levels and bottomed at the 1.0650 levels.

This development leaves the pair targeting the 1.0594 levels, a halt is very likely and a reversal may occur, however, a cut through the 1.0594 levels would open 1.0538, further down, support comes at the 1.0480 levels.

On the upside, resistance comes at the 1.0708 levels, a break will turn outlook neutral and pave the way to the 1.0810 levels

Conclusion: The EURUSD continues to face downside threats below the 1.0708 levels in the short term forecast…

Note: weekly support comes around 1.0619 where rebound is likely…

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