EUR/USD Weekly Forecast – 27 July – 31 July

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Friday, Jul 24 2015

Euro managed to break higher in the course of the last week, as Greek concerns slightly fade off but also with 1.08 handle offering plenty of support for the pair at the moment. Next week would be marked mostly by US dana. Any type of resistive candles above 1.1050 area would offer nice short-term selling opportunity, while area around 1.0850 should be supportive for the pair, so this where we would likely place our short-term

buying bids. Long-term looking, we would still not enter this market. We would like to see decisive break above 1.10 handle before starting to buy the pair as this could lead towards 1.12 handle. On the other hand selling is not an option until we see break below 1.08 handle which does not seem very likely at the moment. With that we remain on the sidelines and would wait for some type of a more clear signal.

More in this category: « GBP/USD Weekly Forecast – 27 July – 31 July AUD/USD Weekly Forecast – 03 August – 07 August »

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