In long-term trends, though there were couple of steadier sessions, 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.
EUR/USD Daily Forecast - 29 March
Euro was pushed higher in the course of the yesterday's session though some markets were closed due to Easter Monday holiday. Pair managed to break above 1.12 handle but pulled back slightly by the end of the session. As for tomorrow, we can expect some amount of support around 1.1150 level, at least initially and resistance at 1.1220 and above 1.1250 level in extension, so this is where we would consider placing short-term selling bids.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419