In long-term trends, despite this pullback, 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.
Last modified on Friday, 12 May 2017EUR/USD Weekly Forecast – 15 May – 19 May
Euro initially broke higher in the course of the last week going all the way above 1.10 handle but this area proved to be too resistive at the moment, with pair pulling back all the way to 1.0840 level, but managed to rebound by the end of the week staying above 1.09 level. As for next week, with no major data releases we expect less volatility. Any type of supportive candles around 1.0830 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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