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 – 13 November – 17 November
Euro was initially pushed lower in the course of the last week going all the way to 1.1550 level where it found some amount of support and managed to rebound by the end of the week in order to close it around 1.1660 level. As for next week we would pay attention to Eurozone GDP figures as well as US and CPI data. Any type of supportive candles around 1.16 and 1.1550 area would be short-term buying signal, while resistive candles above 1.17 and 1.1750 level would be short-term selling opportunity.
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