EUR/USD Next Week Forecast and Trade Ideas (18.1 – 22.1.2016)

Last week the EUR/USD stayed in range. It failed to break the 1.0800 support in the beginning of the week, and it also failed to break 1.0990 resistance in the end of the week after a weak US retail-sales report.

The main drivers for the EUR/USD remain the stock-markets, if markets will continue to fall it’s EUR/USD positive, if markets calm down it’s EUR/USD negative.

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Fundamentally, we have a major news event next week on the calendar – the ECB rate decision, policy statement and press conference on Jan 21. We forecast that the strong support or resistance levels mentioned above will probably break on this event.

Therefore, our next week trade ideas are:

BUY STOP EUR/USD at 1.0995
TP 1.1050 SL 1.0940

BUY STOP EUR/USD at 1.1060
TP 1.1090 SL 1.1030

TP 1.0720 SL 1.0900

TP 1.0580 SL 1.0810


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