My EUR/USD signal on 8th February was not triggered, as none of the key support or resistance levels were reached that day.
the EUR/USD currency paira bullish recovery continuing after the previous day’s low, but I expected that the price would remain between $1.0692 and $1.0766 over the day. It did, so this was a good call., advancing against most other currencies. However,, holding up pretty well against the greenback, so the price in this pair is falling more slowly than we see in other currency pairs. This suggests that if the US Dollar were to weaken, it could be interesting to be in a long trade in this pair.
For these reasons I think the best trades in this currency pair will be scalps from any reversal of any key support or resistance level.I think that the support at $1.0662 is likely to be today’s pivotal point – if it breaks down convincingly, the price could fall quickly to the next support level below it at $1.0602.
Regarding the USD, there will be a release of Flash Services PMI data at 2:45pm London time. There is nothing of high importance due today concerning the EUR.
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