EUR/USD and GBP/USD Forecast February 13, 2018

The EUR/USD pair initially pulled back initially during the trading session on Monday, but turned around to show signs of support, forming a nice-looking hammer. The hammer sits just below the 1.23 level, suggesting that there is a lot of bullish pressure to break out above that level. If we can clear that area, I think the 1.24 level should be the next target, and then eventually the 1.25 level. Underneath, I think that the 1.21 level is going to be massively supportive, as it was previous resistance. Ultimately, this market should continue to see plenty of buyers looking for value, and I think that as the risk appetite continues to build up after last week’s volatility and concern. I believe that we will see buyers start to come out and pick up this market.