EUR/USD Weekly Forecast – 16 October – 20 October

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Friday, Oct 13 2017

EUR/USD Weekly Forecast – 16 October – 20 October

Euro formed support around 1.1720 level in the course of the last week and was then pushed higher going all the way to 1.1880 area, where it found some amount of resistance and pulled back slightly in order to finish the week slightly above 1.18 handle. As for next week, focus will be on US 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, after the rebound in the course of the 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 – 16 October – 20 October AUD/USD Weekly Forecast – 30 October – 03 November »

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