EUR/USD Forecast January 22, 2016, Technical Analysis

The EUR/USD pair fell significantly during the course of the day after the ECB Monetary Policy Statement came out. However, the 1.08 level offered enough resistance to cause the market to bounce, and at the time of writing we are very close to the 50 day moving average again. With this, it looks like the market is going to continue to bounce around in this general vicinity and basically go back and forth between the 1.08 level on the bottom and the 1.10 level on the top. We don’t really like the idea of buying this market at the moment. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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