Long-term looking we have no interest in buying this pair, despite rebound in the course of the last week, as we believe that there are a lot of challenges ahead of Eurozone, so pair could now easily go all the way to parity level.
EUR/USD Weekly Forecast – 02 January – 06 Janaury
Euro was initially pushed lower in the course of the last week but found support around 1.0370 area and managed to rebound by the end end of the week even breaking above 1.06 handle in the course of the Friday's session but there found significant amount of resistance and pulling back all the way to 1.05 handle to the weekly closing. As for next week, though we can expect more data release, we can anticipated that holiday season will extend for a one more week. Pair is likely to find some amount of support around 1.0430 and 1.04 handle in extension and resistance above 1.06 and 1.0650 area.
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