Long-term looking we have no interest in buying this pair, despite rebound in the course of the last week, as we would first like to see break above 1.08 handle before feeling comfortable with placing any larger buying bids.
EUR/USD Weekly Forecast – 23 January – 27 Janaury
Euro formed support around 1.0580 level in the course of the last week and was then pushed all the way to 1.07 handle. However, this area proved to be too resistive for the pair which pulled back but supported by Donald Trump's inauguration speech once again managed to rebound and finish the week around 1.07 area. As for next week, we expect a little less volatility as there are no big data releases. Pair is likely to find some amount of support around 1.0580 and 1.05 handle in extension and resistance above 1.0750 and 1.08 area.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419