EUR/USD Daily Forecast – 10 March
Euro was initially pushed lower in the course of the yesterday's session but once again found support around 1.0940 level, and managed to break above 1.10 handle by the end of the session. Tomorrow, focus will be on ECB monetary decisions and the following press conference. Pair is likely to find some amount of support around 1.0950, initially, and 1.0850 in extension, while area around 1.1050 level should offer some amount of resistance as this was the case in the past few sessions, but if wee break above this area next resistance can be expected around 1.1150 area.
On a long-term basis, despite recent uptrend we have no interest in buying the pair until we see decisive break above 1.1050 handle, which is a beginning of an uptrend line. Once this happens we believe pair could aim towards 1.13 handle. Selling is not an option as long as we are above 1.08 handle.
- 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