Start the week of May 16, 2022 with our ForexMarket forecast focusing on major currency pairs here.
The euro broke significantly to the downside over the course of last week, slicing through the 1.05 level. We broke down below the 1.04 level but then turned around to show signs of life on Friday. Regardless, I think that we will sooner or later get a bounce that gets sold into, especially near the 1.05 handle, and then the 1.06 level.
markets, and therefore global growth. The 0.70 level above should offer resistance as it has been that massive support we have been paying attention to. Because of this,On the downside, the 0.68 level is an area that could offer a little bit of support.The US dollar has fallen hard during the week to reach the ¥127.50 level.
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