EUR/USD Weekly Forecast – 19 October – 23 October
Euro tested 1.15 handle in the course of the last week, but quickly pulled back as this area offered significant amount of resistance but also on dovish comments coming from ECB members. Pair pulled back to 1.13 handle where it found some amount of support. As for next week focus will be on ECB Meeting. We believe that dovish stanzas are likely to push pair lower, perhaps even below
1.13 handle, though we expect some amount of support around this area initially in the week, while 1.15 handle should continue to be resistive despite possible hawkish ECB comments. In long-term trends, we believe that pair will once again head towards 1.15 handle, and if we break above this area we would consider that pair has changed the trend to the upside and would place larger buying bids. Selling is not an option at the moment as there is plenty of support all the way to 1.10 handle.
- 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