EUR/USD Daily Forecast – 25 April

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Friday, Apr 22 2016

Euro was pushed lower in the course of the Friday's session as a reflection on recent ECB stanzas. Pair went as low as 1.1220 level by the daily closing. As for Monday we can expect some amount of support around 1.12 level, initially and 1.1170 in extension, while resistance can be expected at 1.1250 and above 1.1280 level in extension, so this is where we would consider placing short-term selling bids.

In long-term trends, despite this pullback, we have no interest in selling the pair as there is plenty of support all the way to 1.1050 handle. We would use any pullbacks as a buying opportunities, since we believe that pair will go all the way to 1.15 handle given enough time, though we cannot expect an easy way up.

More in this category: « GBP/USD Daily Forecast – 25 April AUD/USD Daily Forecast – 26 April »

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