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.
EUR/USD Weekly Forecast - 05 February - 09 February
Euro formed support around 1.2330 area in the course of the last week and was then pushed higher going all the way to 1.25 handle, however, it found some amount of resistance there and after better than forecasted US NFP figures pair pulled back to a weekly closing around 1.2450 area. As for next week, we expect focus on technical indicators as there will be no major data releases both from Eurozone and USA. 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 1.26 level would be short-term selling opportunity.
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