EUR/USD Daily Forecast - 21 March

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Friday, Mar 18 2016

Euro was pushed lower in the course of the session on Friday, though there were no major data releases. Area above 1.1330 level proved to be too resistive for the pair, which pulled back all the way to 1.1250 handle where it found some amount of support in order to rebound slightly by the end of the session. As for Monday, since there will be no major data releases, we can expect a bit steadier session, in which pair is likely to find support around 1.12 level initially, and 1.1180 handle in extension. On the other hand we can expect resistance above 1.13 and near 1.1330 handle.

In long-term trends, despite Friday's pullback, we would still be buyers and we believe that pair can go as high as 1.15 handle given enough time. We have no interest in selling at the moment.

More in this category: « GBP/USD Daily Forecast - 21 March AUD/USD Daily Forecast - 22 March »

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