EUR/USD Weekly Forecast – 02 October – 06 October

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Saturday, Sep 30 2017

EUR/USD Weekly Forecast – 02 October – 06 October

Euro spent most of the last week in a decline going all the way to 1.17 handle where it found some amount of support and managed to rebound in order to finish the week above 1.18 handle. The decline was mostly caused by German election results and rather good US news and figures that supported USD. As for next week we would be focused on US job figures. Any type of supportive candles around 1.1750 and 1.17 area would be short-term buying signal, while resistive candles above 1.19 and 1.1950 level would be short-term selling opportunity.

In long-term trends, despite pullback last week, we have no interest in selling the pair. However, we expect plenty of resistance above 1.20 handle.

More in this category: « GBP/USD Weekly Forecast – 02 October – 06 October AUD/USD Weekly Forecast – 16 October – 20 October »

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