The euro versus the US dollar pair has been showing significant instability during the past week. As a result of different market changes and new information about the situation in the economy of both countries made the euro reach to 1.3300 by the end of the week. The level of 1.3300 is currently coincing with approximately one major downtrend line of resistance of 1.6, which extends all the way back to July.
The next week, from April 27th till May 1st, we will be able to see the euro/usd figures at a critical juncture.
So what will happen with this currency pair in the nearest time? Will it return to back and forth fluctuations and stay around the same level by the end of the week? Or will it reak the point of 1.3300 and will therefore end the long-term decline process, which was visible for many past months?
Action of prices at the beginning of the next week should give more correct answers to these questions, as any breakout over 1.3300 level should further lead to the level of 1.3550 level at least by the end of the week.
If the price doesn’t keep its up-trend and starts declining again at the beginning of the week, then it can be said for sure, that the euro will hit the level of 1.3100 or even 1.2900 level by the end of the week.