LadyF
Short

EUR/USD forecast

OANDA:EURUSD   Euro / U.S. Dollar
It was hot week for EUR/USD . Brexit and Italy made it’s direction clear. Italy refused to submit budget proposal in accordance with EU rules. I don’t like their Prime Minister’s tone. It makes me think we will see more conflicts and possibly even sanctions against Italy . So, yes, expect more pressure on EUR.
With such fundamentals upside is limited to 1.1550. As you see on the chart we have 2 sellers zones – 1.14200 and range 1.14600 – 1.15000. Look for rejections from one of these levels and go short with targets 1.11900 and 1.11200. Re-sell level – 1.13000. I see 1.15500 only in the case if market makers will decide to wash out weak retailers before main move and make a false break up.
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