In long-term trends, despite initial pullback last week, we have no interest in selling the pair. However, we expect plenty of resistance above 1.20 handle.
EUR/USD Weekly Forecast – 18 September – 22 September
Euro was initially pushed lower in the course of the last week, as area above 1.20 handle proved to be too resistive for the pair at the moment. Pair pulled back all the way to 1.1840 level where it found some amount of support and by the end of the week, supported by mixed US figures, managed to rebound to a weekly closing above 1.19 handle. As for next week, focus will be on FOMC interest rate decision. Any type of supportive candles around 1.1850 and 1.18 area would be short-term buying signal, while resistive candles above 1.20 and 1.2050 level would be short-term selling opportunity.
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