EUR/USD Forecast February 2, 2017, Technical Analysis

The EUR/USD pair fell a bit during the day on Wednesday, but found a bit of support at the 1.0750 level. If we can break the top of the range for the Wednesday candle, I feel that the market then will try to reach towards the 1.09 level and then eventually the 1.10 level. I don’t have any interest in shorting this market into we break below the 50-day exponential moving average on this chart, which is in red, so currently I’m waiting to see whether the buyers return. Patients will be needed to trade this market.

Economic Calendar