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EUR/USD Weekly Forecast - 16 February - 20 February

Friday, Feb 13 2015

After it went through a steadier beginning of the week with a support around 1.13 handle, euro was pushed higher on weaker than expected US data and finished the week near 1.14 handle. Next week should be less volatile, at the very beginning, with volatility coming back with FOMC Meeting Minutes and PMI figures. We believe that some amount of support can be expected around 1.13 handle

, which proved to be a major a support last week, while we would consider selling the pair at the sign of weakness near 1.15 handle as this is major resistive area. In long-term trends we are still strong sellers for this pair and would use any rally as just another selling opportunity. Actually we would not consider buying until we break above 1.20 handle, what does not seem very likely in the near future.

More in this category: « GBP/USD Weekly Forecast - 16 February - 20 February AUD/USD Weekly Forecast - 23 February - 27 February »

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