In long-term trends, now when we have seen decisive break above 1.08 area are interested in buying the pair, but we would be cautious as there is plenty of resistance all the way to above 1.10 handle.
EUR/USD Weekly Forecast – 01 May – 05 May
Euro was pushed higher in the course of the last week going all the way to1.0950 area, where it found some amount of resistance and pulled back by the end of the week but remained around 1.09 handle. Incline was caused by results of French elections as well as overall positive ECB attitude regarding future monetary policy. Next week focus will be on FOMC and US figures. Any type of supportive candles around 1.08 area would be short-term buying signal, while resistive candles above 1.10 and 1.1030 level would be short-term selling opportunity.
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