In long-term trends, if we see decisive break above 1.08 area we would be interested in buying the pair as this a major resistive point. We are not interested in selling the pair, after this rebound.
EUR/USD Weekly Forecast – 27 March – 31 March
Euro was pushed higher in the course of the last week, going all the way to 1.08 handle, which is a major resistive point at the moment. Rest of the week pair spent testing this area as resistance but was not able to break decisively above it. Next week, we believe that geo-political events could be of more impact on the markets. Any type of supportive candles around 1.07 area would be short-term buying signal, while resistive candles above 1.0850 and 1.09 level would be short-term selling opportunity.
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