EUR/USD Weekly Forecast - 16 May – 20 May
After initial steadier beginning of the week wit resistance above 1.1450 handle, euro pulled back in the second part of the week, due to better than forecasted US figures, going all the the way to 1.13 handle. With no major data releases next week we expect less volatility. Pair should find some amount of support around 1.1250 and 1.12 handle in extension, so these would be our short-term buying points, while area near 1.14 handle should offer significant amount of resistance.
On a long-term basis, we have no interest in buying this pair until we see decisive break above 1.15 handle, however we do expect significant amount of support on lower levels so we would remain on the sidelines at the moment.
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