In long-term trends we have no interest in selling the pair as pair, which proved to have significant amount of support on lower levels. We would wait to see if pair is strong enough to break above 1.15 handle, when we would be only buyers for this pair. Until then we would use pullbacks as buying opportunities.
EUR/USD Weekly Forecast - 02 May – 06 May
Euro formed support around 1.12 handle in the course of the last week and was then pushed higher, especially in the second part of the week, breaking even above 1.14 handle, and with a weekly closing above this area. Focus of the next week will be on NFP figures, since there will be no major data releases from Eurozone. Pair should find some amount of support around 1.1350 and 1.13 handle in extension, while resistive candles near 1.15 handle should offer short-term selling opportunity.
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