EUR/USD Daily Forecast – 08 April
Euro was initially pushed lower in the course of the yesterday's session, but found area around 1.1450 handle to be too resistive at the moment, with pair pulling back all the way to 1.1330 handle thus forming a shooting star, though pair rebounded slightly by the end of the session. As for Friday, we can expect some amount of support around 1.1330 level, at least initially and resistance at 1.1430 and above 1.1450 level in extension, so this is where we would consider placing short-term selling bids.
In long-term trends, since pair is stable above 1.13 handle, we would be buyers and we believe that it can go as high as 1.15 handle given enough time. 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.
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