EUR/USD Daily Forecast – 09 May

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Friday, May 06 2016

Euro was pushed higher in the course of the Friday's session after weaker than expected NFP figures, however, pair quickly pulled back, finding area above 1.1450 level to be too resistive at the moment and going all the way to 1.14 handle. With no data releases on Monday, markets are likely to still be influenced be NFP data. Pair is likely to find some amount of support around 1.1380 handle and resistance above 1.1480 area.

On a long-term basis, we would currently remain on the sidelines. If we see break above 1.15 handle we would be buyers for the pair, while we have no interest in selling as long as we are above 1.1250 handle and especially since pair has significant amount of support around 1.14 handle.

More in this category: « GBP/USD Daily Forecast – 09 May AUD/USD Daily Forecast – 10 May »

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