Forex News
Top trade idea for February 1st, 2016 – EUR/USD
5:37:00 AMTrading opportunities for currency pair: the euro/dollar has slid to the trend line. From here we could see a bounce since Monday’s movements usually go against Friday’s. The bounce level will tell us how the sellers are set up. A growth to 1.0938 means we should prepare for a break through 1.0985 and then 1.1025. Expectations that the ECB will extend its program of easing monetary policy will put pressure on the euro until March. Due to this, a break of 1.0800 and a strengthening of the price under 1.0775 (daily candle’s close) means we should consider the euro falling all the way to 1.0630. A growth above 1.0886 will halt any fall.
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