In long-term trends, after this decline in the course of the last week, we have no interest in buying the pair. However, we expect plenty of support around 1.15 handle. Buying is not an option until we see decisive break above 1.18 area.
EUR/USD Weekly Forecast – 30 October – 03 November
Euro was pushed lower in the course of the last week. Pair found plenty of resistance above 1.18 handle and after dovish ECB stanzas on bond buying programme pair pulled back all the way to 1.1570 area, where it found some amount of support and managed to finish the week around 1.16 handle. Next week we would be focused on FOMC interest rate decision and NFP figures. Any type of supportive candles around 1.1550 and 1.15 area would be short-term buying signal, while resistive candles above 1.1680 and 1.17 level would be short-term selling opportunity.
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