In long-term trends we have no interest in selling the pair as pair has plenty of support at 1.12 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 though we do not expect an easy way up, with area above 1.14 handle being a struggle. With that being the case, we would use any pullbacks as buying opportunities.
EUR/USD Weekly Forecast - 18 April – 22 April
Euro was pushed higher initially last week, but found area around 1.1450 handle to offer significant amount of resistance, and pulled back by the end of the week, even below 1.13 area, with some amount of support around 1.1250 level. Focus of the next week will be on ECB Meeting. Pair should find some amount of support around 1.12 and 1.1170 handle in extension, while resistive candles near 1.1370 handle should offer short-term selling opportunity.
- 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