RobertPapon

Analysis and forecasts for EUR / USD 23/02/16

FX:EURUSD   Euro / U.S. Dollar
Declines have occurred during Monday's session, they stopped in the important area of support levels extending between 1,10-1,1045. Currency pair at the moment is close to the 1.10 level. As you can see in the chart below fracture / in support may lead to declines in the vicinity of 1.0945 and 1.08. Therefore, I expect in the near future activation of demand-side and exit-attacking towards resistance at 1.1090 and 1,1066-1,1071. Support for demand may be Tuesday's data, which may become an impulse for a stronger movement. In any case, keep in mind that if Tuesday's readings will support the dollar, the supply will receive strong impetus for further declines towards 1.08. As a result, the growth scenario will be negated.
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