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EUR/USD Price Forecast February 22, 2018, Technical Analysis

Christopher Lewis
Updated
The EUR/USD pair has gone sideways with a slightly negative bend during the trading session on Wednesday, as we continue to bounce around the 1.23 region. I think there is plenty of interest in buying this pair, but we may have to take your time to decide as to when to get involved.

The EUR/USD pair has gone sideways with a slightly negative tilt to it during the day on Wednesday. I think that if we can break above the 1.2350 level, the market then goes to the higher reaches, perhaps looking towards the 1.25 level. Ultimately, I believe that the market then continues go much higher, perhaps reaching to the 1.2750 level, and then eventually my longer-term target: the 1.32 level after that. The EUR/USD pair has recently broken out of a bullish flag, which measures to that market.

Ultimately, I believe that if we pull back from here, we could have the market roll over towards the 1.21 level, and then possibly the 1.20 level after that. Ultimately, I have no interest in shorting this market, I look at the pullbacks as an opportunity to pick up value. The US dollar will continue to struggle as the US market for treasuries has been drifting lower as of late, which of course can put bearish pressure on the greenback itself. Also, this pair tends to rally a bit on risk appetite as well, so if stock markets rally, that should lift the pair.

As we go back and forth, I think that we will continue to find buyers on these dips, and it’s not until we break down below the 1.20 level that I would be concerned about the overall trend, and I think that by the end of the year, we should be much higher.

Euro to Dollar Forecast Video 22.02.18

This article was originally posted on FX Empire

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