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 - 12 March - 16 March
Euro was initially pushed higher in the course of the last week going all the way to 1.2450 area, but found plenty of resistance there and after ECB press conference pair pulled back breaking below 1.23 handle at one moment, but in the end managed to find some amount of support around 1.2270 level in order to finish the session slightly above 1.23 handle. As for next week, we would be more focused on US figures. 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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