EUR/USD Weekly Forecast - 25 May - 29 May
Euro fell in the course of the last week, finding area around 1.10 handle to be supportive enough. Though it seemed that it is ready to break higher after it tested 1.1060 area as a support and bounced all the way to 1.12 handle, it in the end pulled back due to better than forecasted CPI figures and went all the way to 1.10 handle. Next week should be a steadier one, without any major data releases. Any type of resistive candles
around 1.11 area initially and 1.12 handle in extension, in a case of a larger rebound, would offer short-term selling opportunity, while supportive candles around 1. 0950 level, and in a case of a break below it, 1.09 handle, should be short-term buying signal. Long-term looking, despite this fall we are still not keen on selling this pair as we believe that it has some bullish potential and could break higher given enough time. However, if we see decisive break below 1.0950 area we would consider selling the pair.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419