EURUSD Daily Forecast Feb 22 2017

EURUSD, Bearish Eyes The 1.0489 levels!

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EURUSD, Bearish Eyes The 1.0489 levels!

The ERUUSD continues its bearish momentum yesterday, topped at the 1.0614 levels and bottomed at the 1.0525 levels. This development leaves the pair targeting the 1.0480 levels, a halt is likely and a reversal may occur, however; a cut through the 1.0480 levels would open 1.0440, further down, support stands at the 1.0340 levels.

On the upside, resistance comes at the 1.0614 levels, retesting a break will turn outlook neutral for retesting 1.0708 levels where another fall is suggested !!

Conclusion: The EURUSD continues to face downside threats below the 1.0614 levels with risk to the 1.0480 levels, above 1.0614 sees recovery risk to the 1.0708 levels…