Long-term looking, despite this rebound we are not overly enthusiastic about buying the euro at the moment considering all the risks for the Eurozone. We would use any rallies that show signs of exhustation as a selling opportunities.
EUR/USD Weekly Forecast – 01 August – 05 August
Euro spent last week in a slight incline after it found support around 1.0950 handle and went all the way to 1.12 handle, though this is where pair found resistance and pulled back slightly. As for next week we would be focused on US job figures. Any type of supportive candles around 1.10 handle would be short-term buying signal, while resistive candles above 1.1250 handle and 1.13 level in extension would be selling signal.
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