EUR/USD Weekly Forecast - 23 March - 27 March

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Friday, Mar 20 2015

It was quite a volatile week for euro. After it found support around 1.05 handle it was pushed sharply higher by dovish FOMC statement and even touched 1.10 handle, but gave up all of the gains in the next two sessions and remained on the downside around 1.06 handle,only to be once again pushed higher above 1.08 handle during the Friday's session.

Next week we would pay attention to Eurozone PMI figures and US CPI data. We expect some amount of support around 1.06 handle initially so this is where we would consider buying the pair in short-term trends. On the other hand we expect significant amount of resistance above 1.09 handle so this is where we would consider short-term selling. In long-term trends we have no interest in buying this pair, despite recent rebound. 1.05 handle should offer some amount of support, so this would be our initial target but we believe that pair could go even lower than that all the way to parity level given enough time.

More in this category: « GBP/USD Weekly Forecast - 23 March - 27 March AUD/USD Weekly Forecast - 30 March - 03 April »

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