Long-term looking if we see decisive break above 1.12 handle, we would be sellers or this pair, as we believe that pair could go as low as 1.10 handle which is significant supportive point. Buying is not an option at the moment, at leas not until we see break above 1.13 area.
EUR/USD Weekly Forecast – 20 June – 24 June
Euro was initially pushed lower in the course of the last week, going all the way to 1.1130 area, however after FOMC statement it managed to rebound and by the end of the week broke higher, though 1.13 handle still seems to be too resistive for the pair. Focus of the next week will be on British EU referendum which will of course have great impact on euro. Any type of supportive candles around 1.12 handle would be short-term buying signal, while resistive candles above 1.1350 handle and 1.1380 level in extension would be selling signal.
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