EUR/USD daily chart, February 02, 2017

EUR/USD Forecast February 2, 2017, Technical Analysis

The EUR/USD pair fell a bit during the day on Wednesday, but found a bit of support at the 1.0750 level. If we can break the top of the range for the Wednesday candle, I feel that the market then will try to reach towards the 1.09 level and then eventually the 1.10 level. I don’t have any interest in shorting this market into we break below the 50-day exponential moving average on this chart, which is in red, so currently I’m waiting to see whether the buyers return. Patients will be needed to trade this market.

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