EURUSD Daily Forecast: February 08
EURUSD Forecast
The EURUSD had a bearish momentum yesterday slipped below the bullish channel but still unable to break break below 1.0650 key support and H4 EMA 200 as you can see on my H4 chart below. The bias is bearish in nearest term but we need a clear break below 1.0650 to confirm the bearish reversal scenario with nearest target seen at 1.0500 region. Immediate resistance is seen around 1.0730. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish phase remains valid testing 1.0800 area. Overall I remain neutral.
Source: http://fxinstructor.com/blog/eurusd-daily-forecast-february-08-6
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The whole market seems to be in confused state, as we have seen Euro weakening and even Dollar is not making the strongest move, so it’s all very hard to be certain over things. It will be interesting to see how it all works, but we just need to be very wise with how we deal up with things in order to benefit. I never worry much with OctaFX thanks to their swap free account which includes me to work nicely on long term trades without having to pay any overnight charges!