Following the NFP-inspired selloff, the EUR/USD has stabilized at
1.0850.
The EUR/USD was under heavy negative pressure and fell below 1.0850 as the US Dollar gained momentum following the positive January employment data. However, with Wall Street's key indexes rebounding from daily lows, the pair appears to have found support.
Main events for the week: (All times are in GMT)
EUR – Retail sales (YoY) (Jan) – Monday at 10:00
USD - Fed's Chair Powell speech – Tuesday at 17:40
EUR – (GER) Harmonized Index of Consumer Prices – Thursday at
13:00
USD - Michigan Consumer Sentiment Index (Feb) – Friday at 15:00
Our forecast is Bullish for the EUR/USD pair.
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