In long-term trends, despite recent pullback, we still have no interest in selling the pair as there is plenty of support all the way to 1.1050 handle. We would use any pullbacks as a buying opportunities, since we believe that pair will go all the way to 1.15 handle given enough time, though we cannot expect an easy way up.
Last modified on Tuesday, 26 April 2016EUR/USD Daily Forecast – 27 April
Euro was initially pushed higher in the course of the yesterday's session but found area around 1.1330 level to be too resistive at the moment, and by the end of session pulled back below 1.13 handle. As for Wednesday we can expect some amount of support around 1.1250 level, initially and 1.1220 in extension, while resistance can be expected at 1.1330 and above 1.1360 level in extension, so this is where we would consider placing short-term selling bids. We can expect more volatility with FOMC Statement.
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