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 manage to rebound, 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 - 25 April – 29 April
Euro went back and forth in the course of the last week, with traders being cautious ahead of ECB Meeting. Pair was initially pushed higher, but found area near 1.14 handle to be too resistive at the moment and pulled back after ECB Press Conference, with a weekly closing around 1.1220 area. Focus of the next week will be on FOMC Meeting. Pair should find some amount of support around 1.1180 and 1.11 handle in extension, while resistive candles near 1.1250 handle should offer short-term selling opportunity.
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