EUR/USD (1.4742) â€“ Weekly Forecast
Weekly forecast levels: 1.4580/1.4895
Trend for the week â€“ Neutral/Upward
Market Focus: The key factors that will move the forex market in the coming business week are still the speculations about the US jobs market, Pending Home Sales and Trade Balance. Also the speculations about the Fed interest rates politic will dominate in the coming week.
Weekly Strategy: It is expecting dynamic week with high volumes. The traders will sell dollars with expectations for test of 1.49 level and above but the chances are not high. Therefore the forecast is for movements into both directions during the week. Use the key support/resistance levels for opening positions. The key support is at 1.4580, as the break below will start with the dollar recovery. At the same time the first resistance is at 1.4823 and the break above will follow levels close to 1.49.