Long-term looking, after last week's 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 – 05 September – 09 September
Euro spent most of the last week in a decline after it did not manage to break decisively above 1.12 handle, but found support around 1.1120 area and was pushed higher during the Friday's session, but by the end of it once again pulled back finishing the week around 1.1150 area. As for next week, focus will be on ECB Meeting. Any type of supportive candles around 1.1050 handle would be short-term buying signal, while resistive candles above 1.12 handle and 1.1250 level in extension would be selling signal.
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