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EUR/USD Weekly Forecast - 21 March – 25 March

Friday, Mar 18 2016

Euro was pushed higher in the course of the last week mostly due to more dovish Fed stanzas then it was expected. Pair even broke above 1.13 handle, but this area proved to be too resistive for the pair at the moment, and by the end of the week pair pulled back to below 1.13 handle. Next week, should be less volatile, so we believe that we can expect some amount of support around 1.12 handle initially and 1.11 handle in extension. On the other hand, resistive candles above 1.1350 handle would offer short-term selling opportunity.

With this incline, long-term looking, we believe euro could reach 1.15 handle given enough time. This is the area where we expect significant amount of support, and we also must bare in mind that Eurozone economy is rather week and that ECB could implement further monetary measures. However, we have no interest in selling the pair at the moment.

More in this category: « GBP/USD Weekly Forecast - 21 March – 25 March AUD/USD Weekly Forecast - 28 March – 01 April »

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