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EUR/USD Daily Forecast - 22 March

Monday, Mar 21 2016

Euro went back and forth in the course of the session on Monday. Pair found support around 1.1230 level and managed to rebound slightly by the end of the session, though area above 1.1280 area offered resistance. As for Tuesday, we can expect plenty of volatility with Eurozone data. Pair is likely to find support around 1.12 handle, and resistance above 1.13 and 1.1330 level in extension so these would be our short-term buying and selling points. 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.

Last modified on Monday, 21 March 2016
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