Analysis and Forecast EUR / USD - Weekly review (18-22.05)

FX:EURUSD   Euro / U.S. Dollar
Summary of last week:

The dollar weakened against the euro             in the fifth week in a row. The strength of the dollar weakened after the recent weak readings of the US economy. The data showed that industrial production fell for the fifth month in a row, while consumer sentiment remains low. The market reads this as a postponement of interest rate hikes by the Fed. It is worth mentioning that the expectations shifted from June to December, although some assume increases at the beginning of 2016 years.
The dollar is hostage to macroeconomic data, which very well shows the dollar index             , which weakened to a level of 93.29 during the week losing up to 1.8%. This is the fifth weekly decline and the worst result in four years.

In the coming week, investors will pay attention to the notes of the meeting of the Federal Reserve , which will be announced on Wednesday. This information will be crucial. It is also worth will follow Thursday's PMI data and Friday's data on CPI             inflation in the United States.
The market will also be closely watched data from Europe. The most important of these is, of course, Tuesday's German ZEW index and the CPI             from the Eurozone. On Wednesday, however we will know the PMI for Germany and on Friday German GDP and Ifo business sentiment index in Germany.
All the time keep in mind that negotiations are underway on the line Greece - The European Union and at the moment the situation is not resolved.

Forecast for Monday;
Tomorrow, we have no important macroeconomic data, but sentiment may remain upward. The market last week reached the level of 1.1467 and reached important resistance. Accordingly, there is a chance for another upward movement and the test level 1,15-1,1525. At this point, should be activated supply side and defend the resistance and lead to declines. The market is convinced that the sentiment in Europe is changing for the better, but that there were further strong growth in the FOR IN EUR / USD, the market must be supported by good economic data from the Euro             zone. In an alternative version we can be seen in the current price levels some form of consolidation ahead of Wednesday's FOMC meeting writings.
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