Long-term looking, market is likely to consolidate at the moment, after recent huge movements, so we believe it is bes to to stay on the sidelines at the moment.
EUR/USD Weekly Forecast – 11 July – 15 July
Euro tried to break higher in the course of the last week, but found area around 1.1180 level to be too resistive at the moment, with pair pulling back to 1.10 handle, where it found some amount of support, but only to finish the week around 1.1040 area. As for next week, with no major data releases we can expect a bit of consolidation after euro was strongly affected by Brexit referendum results in the past two weeks. Any type of supportive candles around 1.09 handle would be short-term buying signal, while resistive candles above 1.11 handle and 1.1180 level in extension would be selling signal.
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