EUR/USD Weekly Forecast - 12 February - 16 February

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Saturday, Feb 10 2018

EUR/USD Weekly Forecast - 12 February - 16 February

Euro spent last week in a decline going all the way to 1.22 handle where it found some amount of support, but managed to rebound only slightly by the end of the week to 1.2250 area. Decline was mostly caused by overall strengthening of US dollar. As for next week we would pay more attention to US CPI and Retail Sales figures. Any type of supportive candles around 1.22 and 1.2150 area would be short-term buying signal, while resistive candles above 1.2350 and 1.24 level would be short-term selling opportunity.

In long-term trends, we have no interest in selling the pair, despite this week's decline. However, we expect plenty of resistance on the way towards 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 - 12 February - 16 February AUD/USD Weekly Forecast - 19 February - 23 February »

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