EUR/USD Forecast February 8, 2016, Technical Analysis

The EUR/USD pair fell during the day on Friday, as the market had quite a bit of volatility. After all, the jobs number missed, but we still have quite a bit of support at the 1.1050 level below, so having said that we are buyers on supportive candles, and believe that ultimately this pair could very well go higher. At this point though, we do not have any interest whatsoever in trying to short this market as the level below looks like a bit of a “floor.” At this point in time, we are simply trying to be as patient is possible and wait for the buying opportunity.