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EUR/USD Weekly Forecast - 02 February - 06 February

Friday, Jan 30 2015

After it went through sharp decline euro managed to rebound during the last week, with a closing slightly below 1.13 handle. With no major data releases from Eurozone next week focus will be in NFP figures. Pair is likely to find support around 1.1250 level initially in the week and 1.12 handle in extension so these would be our short-term buying points.

On the other hand, pair should find some amount of resistance above 1.1360 level that goes all the way 1.15 handle, so this is where we would consider selling the pair. On a long-term basis we have no interest in buying this pair. Gains should be limited by 1.15 handle so we would use any rallies as just another selling opportunity.

More in this category: « GBP/USD Weekly Forecast - 02 February - 06 February AUD/USD Weekly Forecast - 09 February - 13 February »

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