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EUR/USD FORECASTS FEBRUARY 2017


EUR/USD is one of the most talked parities with the latest global developments like Trump’s taking into office in the USA and elections in European countries. This year, particularly the elections of Germany and France remain as one of the most important risk factors in the market. At this stage, 1.0810 and 1.0830 territory may remain in the short term as long as it remains above the support of 1.0680. The intermediate resistance is at 1.0740 and 1.0775. The EUR/USD rose to 1.0774 yesterday following the withdrawal from the US dollar after the US Treasury Secretary's announcement of a strong US dollar bill in the Senate, but the EUR / USD parity retreated further in the coming hours, Parity closed at 1.0731 on the day.

On the other hand, when we look at the technical analysis of EUR/USD parity, it is important to maintain the 1.0720 level in order for the EURUSD to continue its uptrend’s, with resistance levels of 1.0765 and 1.0820 on the upside. Supported levels of 1.0650 and 1.0600 can be monitored at the discontinuities. The first forecasts of EUR/USD parity will be a bit uncertain and horizontal, because there are a lot of things to see in these markets.

Support levels: 1.0710 / 1.0685
Resistance levels: 1.0770 / 1.0790
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