A new attempt failed last week for EURUSD to close below 1.0500 level, brought parity back to 1.0600 area, thus forming another reversal pattern, the third in recent weeks around this level. A downward movement below 1.0500, at the moment, in my view, is unlikely, even with FED decision to hick rates in March knocking at the door.
A retest of 1.0800 area, from the technical perspective, being more likely, we still have to see if traders are willing to buy before the Fed or are waiting for more clarity in US and UK, the activation of Article 50 is also awaited decision in March.
A retest of 1.0800 area, from the technical perspective, being more likely, we still have to see if traders are willing to buy before the Fed or are waiting for more clarity in US and UK, the activation of Article 50 is also awaited decision in March.