In long-term trends, after this huge uptrend, we have no interest in selling the pair. However, we expect plenty of resistance all the way up to the way to 1.20 handle.
EUR/USD Weekly Forecast – 31 July – 04 August
Euro continued its uptrend in the course of the last week as well going all the way to 1.1750 area, around which it finished the week. The incline was mostly supported by dovish FOMC Statement and overall negative momentum in USD dollar, while confidence in Eurozone is being spurred according to the latest figures. As for next week, focus will on Eurozone CPI figures and US job data. Any type of supportive candles around 1.1650 and 1.16 area would be short-term buying signal, while resistive candles above 1.1850 and 1.19 level would be short-term selling opportunity.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419