EUR/USD Daily Forecast – 14 March

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Friday, Mar 11 2016

Euro was pushed lower initially on Friday, but found area around 1.1080 level to be supportive enough in order to rebound and come near 1.12 handle, where it found significant amount of resistance and pulled back slightly. With no major data releases on Monday, we can expect a bit steadier session. Pair is likely to find some amount of support around 1.11, initially, and 1.1080 in extension, while area around 1.1250 level should offer some amount of resistance as this area is seen as a recent consolidation top.

On a long-term basis, after we have seen this decisive break above 1.1050 handle, we would be interested in buying the pair with initial target set at 1.12 handle. Selling is not an option at the moment.

More in this category: « GBP/USD Daily Forecast – 14 March AUD/USD Daily Forecast – 15 March »

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