EURUSD Daily Forecast Feb 14 2017

EURUSD, Short Term Bearish!

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EURO -dollar - 69875

EURUSD, Short Term Bearish!

Outlook in EURUSD remains on the downside as long as 1.0708 resistance holds on a daily closing basis, support comes at 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…

Notes:

  • Weekly chart support comes around 1.0619 where rebound is likely…
  • Minor resistance levels (4-hour) comes at the 1.0624 levels ahead of the 1.0667 levels…

MARKET DATA

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