EUR/USD Price Forecast – Euro continues to grind

The Euro pulled back during the trading session on Wednesday but is starting to show signs of buying pressure on short-term charts. With this being the case, I think that the market will continue to respect this area around the 1.13 level, an area that has been supported more than once. At this point, I think we can break above the 1.1350 level, then the market will probably try to go looking towards the top of the range, which could send this market towards the 1.1450 area, extending to the 1.15 handle.

Euro to Dollar Forecast Video 14.02.19

I recognize that the Euro is rather soft as of late, but when you look at the chart even with the massive selloff that we have seen, it’s very likely that this is simply more of the same. Even if we break down from here, I believe that the 1.12 level is massive support underneath, with the 61.8% Fibonacci retracement level just below there. Keep in mind that this pair is essentially the “anti-dollar” and therefore I think that this will be an important chart to watch even if you choose not to trade this particular market. This is because the US dollar is going to be key to deciding where the Forex market goes next. Even if you do not choose to take a break out to the upside in this pair, it can give you a bit more confidence in other pairs such as the Australian dollar, or perhaps even the Japanese yen, both of which are at interesting levels.

Please let us know what you think in the comments below