In long-term trends, if we see decisive break above 1.08 area we would be interested in buying the pair as this still a major resistive point, however selling is not an option at the moment.
EUR/USD Weekly Forecast – 24 April – 28 April
Euro was pushed higher in the course of the last week going all the way to1.0780 area, where it found some amount of resistance and pulled back by the end of the week but remained above 1.07 handle. Incline was caused by overall weakness in USD dollar as well as Theresa May's announcement on snap elections in the UK. As for next week focus will be on ECB interest rate decision. Any type of supportive candles around 1.06 area would be short-term buying signal, while resistive candles above 1.08 and 1.0830 level would be short-term selling opportunity.
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