EUR/USD Weekly Forecast – 11 January – 15 January
Euro was initially pushed lower in the course of the last week, though there were no major data releases, but managed to completely rebound by the week's end, despite much better than forecasted NFP figures. However, pair found some amount of resistance around 1.0930 level. We can expect a bit steadier next week, as the main data releases are not scheduled until Friday.
Any type of supportive candles around 1.08 handle, initially next week, would offer short-term buying opportunity, while resistive candles around 1.10 handle would be short-term selling signal. Long-term looking we would not place any larger bids at the moment as we would first like to see decisive break below 1.07 handle, last week's low, in order to start selling the pair. However, this area is quite supportive at the moment so we do not exclude possible bounces to near 1.10 handle, where pair should find significant amount of resistance, as this is the ceiling of a recent consolidation range.
- 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