In long-term trends, now when we have seen decisive break above 1.08 area we are interested in buying the pair, but we still expect some turbulence around 1.10 area.
EUR/USD Weekly Forecast – 08 May – 12 May
Euro continued its uptrend in the course of the last week going all the way to 1.10 handle, by the end of the week, which is still quite resistive at the moment. The incline is further supported by polls showing that Macron won in French presidential debate as well as mixed figures coming from the USA. As for next week, we expect steadier first part, with focus on US figures in the second part of the week. Any type of supportive candles around 1.09 area would be short-term buying signal, while resistive candles above 1.1050 and 1.11 level would be short-term selling opportunity.
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