EUR/USD Daily Forecast - 18 March

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Thursday, Mar 17 2016

Euro continued its uptrend in the course of the Thursday's session, breaking above 1.13 handle, but finding area around 1.1350 level to be too resistive at the moment so it pulled back by the end of the session. Incline is mostly result of Wednesday's Fed rate decision and stanzas on future monetary policy. As for tomorrow, since there will be no major data releases, we can expect a bit steadier session, in which pair is likely to find support around 1.1250 level initially, and 1.12 handle in extension.

On the other hand we can expect resistance above 1.1350 and near 1.14 handle. In long-term trends, with this break above 1.13 handle 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 - 18 March AUD/USD Daily Forecast - 21 March »

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