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EUR/USD Weekly Forecast – 5 October – 9 October

Friday, Oct 02 2015

Euro went back and forth in the course the last week initially pushed higher but after it was unable to break higher it pulled back, only to find support around 1.11 handle and then once again rally after weaker than expected NFP figures, However, it seems that 1.13 handle is the top for this pair at the moment. As for next week we expect steadier session as there will be no major data

releases. Pair is likely to find support around 1.11 handle, as it was the cases last week and resistance above 1.13 level so this is where we would sell the pair on a short-term basis. On a long-term basis, we have no interest in placing any larger bids, as pair is still in consolidation between 1.11 and 1.13 handle . We believe that pair will go through some bearish pressure in the sessions to come, but as long as we do not see decisive break below 1.11 handle and uptrend line formed below it selling is not an option.

More in this category: « GBP/USD Weekly Forecast – 5 October – 9 October AUD/USD Weekly Forecast – 12 October – 16 October »

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