In long-term trends, as long as we are 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 – 29 May – 02 June
Euro broke above 1.12 handle in the course of the last week but area above 1.1250 handle proved to be too resistive at the moment with pair spending rest of the week going back and forth with support around 1.1160 level and resistance above 1.1230 area to a weekly closing around 1.1180 level. As for next week we can expect some volatility with 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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