Long-term looking, after this decline we would be sellers for the pair. 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. We have no interest in buying the pair as there is plenty of resistance above 1.13 handle.
EUR/USD Weekly Forecast – 29 August – 02 September
It was initially a steadier beginning of the week for euro, which was traded between 1.1280 and 1.1330 level, but by the end of the week pulled back after hawkish Janet Yellen's statement. As for next week, with plenty of data releases we can expect a plenty of volatility with focus on Eurozone CPI and U NFP figures. Any type of supportive candles around 1.1150 handle would be short-term buying signal, while resistive candles above 1.13 handle and 1.1340 level in extension would be selling signal.
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