EUR/USD Daily Forecast – 02 May

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Friday, Apr 29 2016

Euro spent Friday's session in an uptrend, despite weak Eurozone CPI figures, breaking above 1.14 handle, and going all the way to 1.1460 area, where it found some amount of resistance and pulled back by the end of the session. As for Monday we can expect some amount of support around 1.14 level, initially and 1.1370 in extension, while resistance can be expected at 1.1460 and above 1.15 level in extension, so this is where we would consider placing short-term selling bids.

In long-term trends, we expect that pair will struggle to break above 1.15 handle, but once when we see this break we would be buyers only for this pair. We have no interest in selling the pair at the moment.

More in this category: « GBP/USD Daily Forecast – 02 May AUD/USD Daily Forecast – 03 May »

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