EUR/USD Weekly Forecast - 19 February - 23 February

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Friday, Feb 16 2018

EUR/USD Weekly Forecast - 19 February - 23 February

Euro spent last week in an uptrend going all the way to 1.2550 handle, where it found some amount of resistance and pulled back in order to finish the session around 1.24 handle. Pair was mostly supported by overall weakening of USD dollar as there were no major data releases. Next week, we expect similar up and down trading. Any type of supportive candles around 1.23 and 1.2250 area would be short-term buying signal, while resistive candles above 1.25 and 1.2550 level would be short-term selling opportunity.

In long-term trends, we have no interest in selling the pair, especially after pair managed to rebound this week. 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 - 19 February - 23 February AUD/USD Weekly Forecast - 5 March - 9 March »

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