In long-term trends, we have no interest in selling the pair, despite some mixed momentum. 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.
EUR/USD Weekly Forecast - 5 March - 9 March
Euro was initially pushed lower in the course of the last week going all the way to 1.2150 area, but found plenty of support there and manged to rebound completely in the second part of the week going all the way to above 1.23 handle, thus finishing the week in a neutral tone. As for next week focus will be on ECB interest rate decision. Any type of supportive candles around 1.22 and 1.2150 area would be short-term buying signal, while resistive candles above 1.24 and 1.2450 level would be short-term selling opportunity.
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