EURUSD Daily Forecast Feb 20 2020

EURO dollar 6598554 e1563323497881 Won

EURUSD: Bearish, Sees Further Weakness…

As long as 1.0825 – broken support turned resistance – holds on a daily closing basis. The EURUSD remains on the downside to 1.0785. A halt is likely, it may test 1.0825 before attempts to break lower. Anyway; below 1.0785 aims the 1.0755 level, further down, support comes in the 1.0720 level.

On the upside, immediate resistance comes at the 1.0825 level. Above that level sees recovery threats to 1.0860/1.0890 levels, A break of 1.0890 will extend the corrective recovery to 1.0930 level.

In conclusion: The EURUSD sees downside treats below 1.0825 levels…

Support:1.0785, 1.0755, 1.0720, 1.0685, 1.0650

Resistance: 1.0825, 1.0860, 1.0890, 1.0930, 1.0963

EURUSD Daily Forecast Feb 20 2020Key data/events which may affect EURUSD today:
  • ECB Publishes Account of Monetary Policy Meeting at 12:30 GMT.
  • Philadelphia Fed Manufacturing Index (Feb) at 13:30 GMT.