EUR/USD Forecast February 14, 2017, Technical Analysis

The EUR/USD pair initially tried to rally but found enough resistance at the 50-day exponential moving average to turn things around and form a slightly negative candle. It looks as if we’re going to continue the downtrend, perhaps reaching towards the 1.05 level. However, if we break above the top of the candle for the day on Monday, we could find ourselves reaching towards the 1.0750 level. Currently, momentum indicators are suggesting that we are starting to see more selling pressure than anything else. No matter what happens, it’s not can be an easy move.

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