In long-term trends, after recent decline, 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 – 06 November – 10 November
Euro was traded in a tigher range in the course of the last week with support around 1.16 handle and resistance at 1.17 handle. However, pair finished the week in a negative tone around 1.16 handle due to better than forecasted US NFP figures. Pair is still influenced by dovish ECB stanzas. Next week, with no major data releases we expect less volatility. 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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