Long-term looking, after uptrend, we would consider buying euro, but are still concerned with all the risks for the Eurozone. We would still use rallies that show signs of exhustation as a selling opportunities, however would not place larger selling bids until we see decisive break below 1.10 handle, which does not seem very likely at the moment.
EUR/USD Weekly Forecast – 22 August – 26 August
Euro was pushed higher last week, mostly due to dovish FOMC Meeting Minutes, with pair breaking all the way to 1.13 handle, but finding some amount of resistance above 1.1360 area, and pulling back slightly by the end of the week. Next week is likely to be a less volatile one as there are no major data releases. Any type of supportive candles around 1.1250 handle would be short-term buying signal, while resistive candles above 1.1370 handle and 1.14 level in extension would be selling signal.
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