EURUSD to test the record levels since the beginning of January 2021 at 1.2349. The test of the highest level this year and at all since April 2018 is on the way to happen next week. Few hours earlier we saw very good economic news for the United States but nevertheless these news did not support the Dollar. The positive report for Durable Goods orders from 1.2% to 3.4% was not accepted by the investors and even the good decline of Initial Jobless Claims to 730K from 841K. Till the end of the week we do not expect key fundamental reports. Next week on Friday we can see the key U.S. Non-farm report as the expectations are to see a report at 110K from 49K prior month. The trading strategy of World-Signals.com is to trade into long positions. After a short correction down to 1.2150/60 we expect to see a test of 1.2349 and probably break above towards 1.24.

EURUSD hit the top of 1.2169 as this level was a signal for the selling process. The Dollar recovered from the high of 1.2169 a level reached on January 26th 2021. The recovery is already generated of 70 pips. The tendency for continued recovery remains for the next couple of hours. The fundamental focus comes for tomorrow the key data for the U.S. Retail Sales and FOMC Minutes. The investors predict a positive Retail Sales report that is already generated by the market. The forex market is also moved by the last records in Bitcoin - ever time high over $50000 and also the record Oil price since December 2019. All these events may continue to support the Dollar in the next couple of hours. The tendency for Dollar recovery may stop on Wednesday (Feb 17th 2021) when World-Signals.com plans to start into long positions with a new target of 50-80 pips above or close to today's pick at 1.2169.

There remains little more than 24-hours to complete this week's trading. EURUSD in this second week of February is currently trading at about +90 pips from the start of the week. The lossing process of the Dollar continues. In the next trading hours EURUSD may make some recovery based on technical indicators from 1.2137 now to levels below 1.2100. You can find the bottom at 1.2100 or 1.2073. World-Signals.com recommend to use the level of 1.2073 as the possible bottom of trading and use this level of few pips below as a stop. So the trading strategy in the last day ahead of the U.S. Holiday on Monday (U.S. President's Day) is to try entry into a long position with stop below 1.2073 and wait for a new target up above 1.2150 that may happen in the rest Monday or during the Tuesday Asia session.