EURUSD Daily Forecast Feb 23 2017

EURUSD Maintains Recovery Tone With Caution...

EURO -dollar - 69875

EURUSD Maintains Recovery Tone With Caution…

Outlook in EURUSD has turned neutral with risk to the downside. Resistance comes at the 1.0573 levels, a failure to hold above the 1.0573 levels on a daily closing basis could mean a return to the 1.0520/1.0480 levels, a halt is likely and a reversal may occur, however; below the  1.0480 levels sees a fall risk to the 1.0400 levels,further down,support stands at the 1.0339 levels.

On the upside, resistance comes at the 1.0573 levels, sustained breakout – daily closing – above 1.0573 will put the pair in the recovery mode and build a strong pressure on the 1.0614 levels, If 1.0614 fails to hold, the pair will extend gains to the 1.0708 levels…

Conclusion: The EURUSD continues to face downside threats below the 1.0573 levels, above 1.0573 sees recovery threats to the 1.0614 levels and possibly higher to the 1.0708 levels…

MARKET DATA

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