EUR/USD Weekly Forecast – 14 September – 18 September
Though it was less eventful week, EUR/USD pair was quite volatile. It found area around 1.11 handle to be quite supportive and by the end of the week managed to break 1.13 handle that offered some amount of resistance initially. With no major data releases from Eurozone next week, focus will be on US data, in particular on Fed interest rate decision. If interest rates remain unchanged we expect that euro could go as high as
1.14 and 1.15 handle in extension where we expect significant amount of resistance. On the other hand, if Fed decides to rise interest rates that could push euro all the way to 1.10 handle which should offer some amount of a support. On a long-term basis we would actually still remain on the sidelines for this pair. Break above 1.13 handle indicates that pair could head towards 1.15 handle so we are currently more intrested in buying this pair. Selling is not an option until we see break below 1.11 handle.
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