In long-term trends, 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 – 08 January – 12 January
Euro spent most of the last week going back and forth, with support being formed around 1.20 handle and resistance above 1.2080 area, with the pair in the end finishing week around 1.2030 level. We can expect more volatility next week, with the end of holiday season, however there will be no major data releases from Eurozone so we would be more focused on US figures. Any type of supportive candles around 1.1950 and 1.19 area would be short-term buying signal, while resistive candles above 1.2080 and 1.2120 level would be short-term selling opportunity.
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