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 – 05 June – 09 June
Euro formed support around 1.11 handle in the course of the last week and spent rest of it in incline going all the way to 1.1280 area by the end of the week, mostly supported by weaker than expected US figures. As for next week focus will be on ECB interest rate decision and the following press conference. Any type of supportive candles around 1.12 and 1.1150 area would be short-term buying signal, while resistive candles above 1.1350 and 1.14 level would be short-term selling opportunity.
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