EUR/USD Weekly Forecast - 11 April – 15 April

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Friday, Apr 08 2016

Euro went back and forth in the course of the last week, with a support around 1.1330 level and resistance above 1.1450 handle. There were no major data releases, so euro just tried to break higher, but struggled above 1.1430 level. With no major data releases from Eurozone next week we would pay attention to US figures. 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.

In long-term trends we have no interest in selling the pair as pair has plenty of support at 1.13 handle initially and then all the way to 1.1050 level, and we believe that pair will now try to test 1.15 handle, given enough time and then perhaps even go higher. With that being the case, we would use any pullbacks as buying opportunities.

More in this category: « GBP/USD Weekly Forecast - 11 April – 15 April AUD/USD Weekly Forecast - 18 April – 22 April »

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