EURUSD Daily Forecast Feb 16 2017

EURUSD Faces Recovery Threats With Caution!

EURO -USD-65984

EURUSD Faces Recovery Threats With Caution!

Outlook in EURUSD remains on the downside as long as 1.0619 resistance holds on a daily closing basis, support comes at the 1.0524/1.0480 levels, a halt is very likely and a reversal may occur, however, a cut through the 1.0480 levels would open 1.0404, further down, support comes at the 1.0340 levels.

On the upside, resistance comes at the 1.0619 levels, a daily closing – sustained breakout- above 1.0619 will turn outlook neutral and pave the way to the 1.0708 levels before the next falling…

Conclusion: The EURUSD continues to face downside threats below the 1.0619 levels with risk to the 1.0524 levels, above 1.0619 sees recovery threats to the 1.0708 levels before the next possible falling…

Note: Minor support comes at the 1.0690 levels…

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