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EUR/USD Weekly Forecast - 09 March - 13 March

Friday, Mar 06 2015

Euro was pushed sharply down during the last week mostly due to yet another round of dovish stanzas coming from ECB but even more due to general weakness of the pair and continuous growth in strength of USD. Next week there will be no major data releases, so we can expect small rebound initially in the week after this huge decline.

Any type of supportive candles around 1.08 handle would offer short-term buying opportunity, while resistive candles above 1.0950 level would be short-term selling signal. On a long-term basis, buying will not be an option for us for quite some time now. As far as we can see, we can expect some amount of support around 1.05 handle, but it seems that euro is more likely to head towards parity level given enough time.

More in this category: « GBP/USD Weekly Forecast - 09 March - 13 March AUD/USD Weekly Forecast - 16 March - 20 March »

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