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EUR/USD Weekly Forecast – 15 February – 19 February

Friday, Feb 12 2016

After it went through a steadier beginning of the week with a support around 1.09 handle, euro was pushed higher on speculations that Fed will not rise interests rates in the near future. Next week should be less volatile, at the very beginning, with volatility coming back with FOMC Meeting Minutes and CPI figures. We believe that some amount of support can be expected around 1.11 handle, which proved to be a major a support last week, while we would consider selling the pair at the sign of weakness near 1.15 handle as this is major resistive area.

In long-term trends we would  be buyers for this pair and would use any pullback as just another buying opportunity. Actually we would not consider selling until we break below 1.10 handle, what does not seem very likely in the near future.

More in this category: « GBP/USD Weekly Forecast – 15 February – 19 February AUD/USD Weekly Forecast – 22 February – 26 February »

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