EUR/USD (1.5429) – Weekly Forecast

Weekly forecast levels: 1.5280/1.5755

Trend for the week – Neutral

Market Focus: Existing Home Sales, Consumer Confidence, Durable Orders, New Home Sales, GDP-Final, Core PCE Inflation.

Weekly Strategy: The key support level for EUR/USD in the coming week is 1.5395. If the first economic data is positive for the dollar the recovery of the dollar will continue. Otherwise the dollar will lose the recent gains by the last week very fast and will back at the levels of 1.57 and above to 1.59. If the dollar break below 1.5395 the dollar recovery will continue to the level of 1.5280. The trading strategy in the coming week is to monitor the level of 1.5395 and open short if break below, otherwise open long.