In long-term trends, now when we have seen decisive break above 1.10 handle we have no interest in selling the pair. However, we expect plenty of resistance on the way up all the way to 1.15 handle.
EUR/USD Weekly Forecast – 22 May – 26 May
Euro spent last week in a huge incline, forming support around 1.09 handle and breaking above 1.12 area, which at the moment offers some amount of resistance. The uptrend was mostly supported by overall weakening of US dollar. Next week we would be more focused on US figures. Any type of supportive candles around 1.11 area would be short-term buying signal, while resistive candles above 1.1250 and 1.13 level would be short-term selling opportunity.
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