EUR/USD Daily Forecast - 24 March

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Wednesday, Mar 23 2016

Euro was pushed lower in the course of the yesterday's session, going all the way to 1.1150 handle where it found some amount of support, but it seems that Brussels attacks had negative impact on euro, and that it could now head towards 1.1050 handle. As for Thursday we can expect some amount of support around 1.11 level, at least initially and resistance on 1.12 and above 1.1250 level in extension, so this is where we would consider placing short-term selling bids.

In long-term trends, despite recent pullback, we would still be buyers and we believe that pair can go as high as 1.15 handle given enough time, though initial target is set at 1.13 handle. We have no interest in selling at the moment, as we believe that there is significant amount of support for this pair all the way to 1.1050 level, from where pair could easily bounce out.

More in this category: « GBP/USD Daily Forecast - 24 March AUD/USD Daily Forecast - 25 March »

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