EUR/USD Weekly Forecast - 10 October – 14 October

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Friday, Oct 07 2016

Euro spent last week in a decline, breaking below 1.12 handle and going all the way to 1.11 area in the course of the Friday's session but this is where the pair found some amount of support and managed to rebound for a weekly closing near 1.12 handle. As for next week, without any major data releases until Friday, we can expect steadier beginning of the week. Pair is likely to find some amount of support around 1.11 and 1.1050 handle in extension and resistance above 1.1250 and 1.13 area.

Long-term looking we have no interest in buying this pair as we believe that there is plenty of resistance above 1.13 handle and all the concerns surrounding Brexit have a lot of impact on euro as well.

More in this category: « GBP/USD Weekly Forecast - 10 October – 14 October AUD/USD Weekly Forecast - 17 October – 21 October »

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