EUR/USD and GBP/USD Forecast February 18, 2016

The EUR/USD pair fell a bit during the course of the day on Wednesday, but did find a bit of support and that would not be much of a surprise to those of you who been following my analysis lately. I believe that the 1.1050 level is essentially the “floor” in this pair, and now that we have broken out and pulled back, it’s very likely that the Euro will continue to strengthen. This is a market that features a couple of super banks that are trying to kill off their own currencies, but at this game there is no competition for the Federal Reserve. With that, I believe that we will grinder way back towards the 1.13 level, and then eventually the 1.15 handle where I suggest that we will be changing trends on a move above.

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