EUR/USD Weekly Forecast - 13 April - 17 April
After it initially tried to head higher and test 1.10 handle, euro broke completely down in the course of the last week going all the way to 1.06 handle. Next week focus will be on ECB Meeting. We believe that pair is likely to find some amount of support around 1.05 handle, since it is important figure on long-term charts, at least initially in the week, while we can expect significant amount of resistance above 1.07 handle which
was supportive for some time. Long-term looking, we are not interested in buying this pair until it breaks above 1.15 handle which does not seem very likely in the near future, especially with the latest downtrend. We actually believe that pair will continue lower and head towards 1.05 handle where we can expect significant amount of support, being round psychologically important figure. On the other hand 1.10 handle should continue to be massively resistive offering nice selling opportunity.
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