EUR/USD Weekly Forecast – 06 June – 10 June

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Friday, Jun 03 2016

Euro was initially pushed lower in the course of the last week going all the way to 1.11 handle, however, found support slightly below it and managed to rebound by the end of the week going all the way to 1.1350 level due to weaker than expected US NFP figures.There will be no major data releases next week so we can expect a bit steadier week. Any type of supportive candles around 1.1250 handle would be short-term buying signal, while resistive candles above 1.1450 handle would be selling signal.

Long-term looking since we have seen decisive break above1.1250 handle, we would be buyers for this pair, as we believe that pair could go as low as 1.15 handle which is significant resistive point. Spelling is not an option at the moment, as long as we are above 1.12 handle.

Last modified on Friday, 03 June 2016

More in this category: « GBP/USD Weekly Forecast – 06 June – 10 June AUD/USD Weekly Forecast – 13 June – 17 June »

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