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EUR/USD Daily Forecast – 18 April

Saturday, Apr 16 2016

Euro spent Friday's session in a rebound after it formed support around 1.1250 handle, and managed to break once again above 1.13 handle, though  it found some amount of resistance there. As for Monday, with no major data releases, we can expect some amount of support around 1.1250 level, at least initially and resistance at 1.1330 and above 1.1350 level in extension, so this is where we would consider placing short-term selling bids.

In long-term trends, we have no interest in selling the pair as there is plenty of support all the way to 1.1050 handle. We would use this pullback as a buying opportunity, since we believe that pair will go all the way to 1.15 handle given enough time.

More in this category: « GBP/USD Daily Forecast – 18 April AUD/USD Daily Forecast – 19 April »

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