EUR/USD Weekly Forecast - 27 April - 01 May
Euro was pushed higher during the last week, though there were no major data releases from Eurozone and the single currency depended on news concerning Greek debt crisis. Next week will be less eventful with Eurozone data but the focus will be on FOMC Statement which could push euro further down. We do not have doubt at the moment that long-term target for euro is 1.06 handle so we are more than comfortable with
selling this pair. Buying is not an option until we see break above 1.12 handle which does not seem very likely in the near future. On a short-term basis, we believe that 1.0750 handle will offer some amount of support initially in the week, so this would be our short-term buying point, while area above 1.0930 level is where we expect resistance and would sell the pair.
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