EUR/USD Weekly Forecast - 06 April - 10 April

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Friday, Apr 03 2015

After it was in initially pushed lower in the course of the last week euro managed to find area below 1.0750 level to be supportive at the moment and after poor US job reading managed to rebound in order to test 1.10 handle as a resistance. We recognize that there is a plenty of resistance between here and 1.12 handle and therefore we have no interest in buying this pair, at least on a

long-term basis. We would wait for some type of negative candle in order to start selling the pair once again. With no major data releases from Eurozone next week we expect a bit steadier week. Pair is likely to find significant amount of resistance above 1.1050 handle so this is where we would place our short-term selling points. On the other hand, 1.09 handle is not particularly supportive, but area around 1.0850 handle is where we would consider placing selling bids.

More in this category: « GBP/USD Weekly Forecast - 06 April - 10 April AUD/USD Weekly Forecast - 13 April - 17 April »

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