Despite decline during the last week, we believe that pair still has significant amount of support all the way to 1.1050 handle, and as long as we are above it we have no interest in selling the pair. Given enough time we believe that pair could reach 1.13 handle and then perhaps go even higher all the way to 1.15 handle.
EUR/USD Weekly Forecast - 28 March – 01 April
Euro spent last week in a decline going all the way to 1.1150 handle where pair managed to found some amount of support. Though there were no major data releases, euro was put under pressure after Brussels attacks, and also dovish Fed stanzas impact started to fade out. Next week we can expect more volatility in the second part of the week with US NFP figures being released. We believe that we can expect some amount of support around 1.11 handle initially and 1.1050 handle in extension. On the other hand, resistive candles above 1.1250 handle would offer short-term selling opportunity.
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