In long-term trends, after this uptrend, we have no interest in selling the pair. However, we expect plenty of resistance around 1.20 handle. Selling is not an option until we see decisive break below 1.15 area.
EUR/USD Weekly Forecast – 27 November – 01 December
After euro initially formed support around 1.17 handle in the course of the last week, pair was pushed higher and spent rest of the week in an incline going all the way to 1.1930 area, around which pair finished session which is of course a positive sign, however, a lot of uptrend can be attributed to Thanksgiving holidays. As for next week we would pay attention to Eurozone CPI figures. Any type of supportive candles around 1.1850 and 1.18 area would be short-term buying signal, while resistive candles above 1.20 and 1.2050 level would be short-term selling opportunity.
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