In long-term trends we have no interest in selling the pair and believe that it will now reach 1.15 handle, given enough time. With that being the case, we would use any pullbacks as buying opportunities.
EUR/USD Weekly Forecast - 04 April – 08 April
Euro was pushed higher in the course of the last week, breaking even above 1.14 handle, mostly due to dovish Janet Yellen's comment regarding future monetary policy steps. Even better than forecasted NFP figures did not help USD in any larger rebound. However, area above 1.14 handle still offers some amount of resistance for euro and we can expect this all the way to 1.15 handle, which is of course round and psychologically important level. With no major data releases next week we expect a bit steadier session in which pair should find some amount of support around 1.13 and 1.1250 handle in extension, while resistive candles near 1.15 handle should offer short-term selling opportunity.
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