EUR/USD Weekly Forecast – 04 December – 08 December

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Friday, Dec 01 2017

EUR/USD Weekly Forecast – 04 December – 08 December

Euro was initially pushed lower in the course of the last week, but found some amount of support around 1.18 handle and then rebounded in the second part of the week in order to finish the session around 1.19 area. As for next week we would be more focused on US figures, especially NFP report. Any type of supportive candles around 1.1850 and 1.18 area would be short-term buying signal, while resistive candles above 1.1950 and 1.20 level would be short-term selling opportunity.

In long-term trends, after recent 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.

More in this category: « GBP/USD Weekly Forecast – 04 December – 08 December AUD/USD Weekly Forecast – 18 December – 22 December »

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