EUR/USD Weekly Forecast – 28 September – 2 October

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Friday, Sep 25 2015

In a less eventful week euro was pushed lower unable to break above 1.13 handle and went all the way to 1.11 handle. This area offered some amount of support with euro rebounding by the end of the week to 1.12 handle. However, this area still offers some amount of resistance. As for next week we would be focused on US NFP figures. Pair is likely to find support around 1.11 handle, which proved to be supportive for some time

now, so this is where we would consider short-term buying, while near 1.13 handle we expect significant amount of resistance so this is where we would sell the pair on a short-term basis. On a long-term basis we would remain on the sidelines for this. Pair is for some time in consolidation now between 1.11 and 1.13 handle so until we see decisive break above or below one of these levels we would not place larger bids in any direction.

More in this category: « GBP/USD Weekly Forecast – 28 September – 2 October AUD/USD Weekly Forecast – 5 October – 9 October »

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