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EUR/USD Weekly Forecast - 11 May - 15 May

Friday, May 08 2015

Euro went back and forth in the course of the session, even breaking above 1.13 handle, but area near 1.14 handle proved to be too resistive at the moment, with euro pulling back to 1.12 handle. As for next week we can expect a bit steadier week since there will be no major data releases. Any type of resistive candles above 1.1350 area should offer short-term selling opportunity, while supportive candles around 1.11 handle, from

which pair bounce out few times, should be short-term buying signal. On a long-term basis, we believe that pair could continue to break higher, so we have no interest in selling it at the moment, since 1.10 handle should offer plenty of support at the moment. We believe that pair could go all the way to 1.15 handle, though we do not expect an easy way up.

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