EUR/USD Weekly Forecast – 04 July – 08 July

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Saturday, Jul 02 2016

Euro was mostly influenced by Brexit referendum results in the course of the last week. Pair initially found support slightly below 1.10 handle and managed to rebound breaking above 1.11 handle, however area above 1.1150 level proved to be too resistive for the pair which spent rest of the week going back and forth, but settled the week above 1.11 handle. As for next week, with no major data releases from Eurozone focus will on US NFP figures. Any type of supportive candles around 1.10 handle would be short-term buying signal, while resistive candles above 1.12 handle and 1.1250 level in extension would be selling signal.

Long-term looking, market is likely to consolidate at the moment, after recent huge movements, but we can expect sudden volatility on any news regarding Brexit.

More in this category: « GBP/USD Weekly Forecast – 04 July – 08 July AUD/USD Weekly Forecast – 11 July – 15 July »

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