EUR/USD Weekly Forecast – 29 January – 02 February

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Saturday, Jan 27 2018

EUR/USD Weekly Forecast – 29 January – 02 February

Euro was pushed higher in the course of the last week, supported by weaker US dollar. Pair broke above 1.25 handle where it found some amount of resistance and after some bullish comments coming from President Trump euro pulled back slightly to a weekly closing around 1.2420 area. As for next week focus will be on NFP figures and FOMC interest rate decision. Any type of supportive candles around 1.2350 and 1.23 area would be short-term buying signal, while resistive candles above 1.2550 and 1.2120 level would be short-term selling opportunity.

In long-term trends, we have no interest in selling the pair. However, we expect plenty of resistance around 1.25 handle. Selling is not an option until we see decisive break below 1.20 area.

More in this category: « GBP/USD Weekly Forecast – 29 January – 02 February AUD/USD Weekly Forecast - 05 February - 09 February »

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