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EUR/USD and GBP/USD Forecast February 26, 2018

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The EUR/USD pair has done almost nothing during the trading session on Friday, as we hang about the 1.23 level. This is an area that has been important for the last couple of weeks, if not months, but longer-term I believe that the 1.21 level underneath is the beginning of the “floor” in the market. I would also point out that the 50-day EMA is just below, and it looks as if it is trying to offer a bit of dynamic support. I think that even if we do break down for here, it’s not until we break down below the uptrend line below that I would be concerned about the uptrend. I would look at those pullbacks as value, just as a break above the Thursday shooting star would be a bullish sign and suggest that the market is reaching towards the 1.25 handle.

for more analysis: http://www.dailyforex.com

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