EUR/USD Forecast February 2, 2015, Technical Analysis

The EUR/USD pair did very little during the session on Friday, as we continued to grind sideways as we have seen over the last several sessions. That being the case, it looks like the market is ready to continue going lower, as there seems to be a massive amount of resistance between here and the 1.15 level. With that, we feel that rallies will continue to be selling opportunities, and we still believe that the EUR/USD pair needs to go down to the 1.10 level given enough time as the area seems to be the next major support level.

 

EUR/USD Forecast February 2, 2015, Technical Analysis