EURUSD and GBPUSD Forecast February 6, 2018 EURUSD and GBPUSD Forecast February 6, 2018
The EUR gap lower at the open on Monday, turned around to fill that gap, and has rolled over to show signs of exhaustion. It looks as if the US dollar is trying to make a stand, and when I look at the US Dollar Index, it is testing serious support. I think that we could get a bit of a pullback because of this, but I would anticipate that there should be plenty of buyers below, especially near the 1.23 handle. I suspect that we may see a small dip lower, but eventually buyers will return to continue to press the issue to the upside. If we could turn around and break above the 1.25 handle, the EURUSD pair should continue to go much higher that point, which I believe that eventually happens. In the meantime, I expect a lot of noise and value opportunities to appear.
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