EUR/USD Daily Forecast – 14 March

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. Read more...

EUR/USD Weekly Forecast – 14 March – 18 March

After initial steadier beginning of the week, with resistance at 1.1050 handle and support around 1.09 handle euro was pushed higher in the course of the session on Thursday, first testing bottom at 1.08 handle, but then shooting out all the way to 1.12 handle where it found significant amount of resistance and pulled back. However, this incline despite new ECB monetary measures is a bullish sign, though next week traders will be cautious with very busy data week in the USA with focus on FOMC Meeting. Pair is likely to find support around 1.10 handle, and resistance above 1.1250 area, at least initially in the week, so these would be our short-term buying and selling points.

EUR/USD Weekly Forecast – 14 March – 18 March

Events that marked the week:

From Eurozone, on Monday, German Factory Orders figures were released. Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had decreased in January 2016 a seasonally and working-day adjusted 0.1% on December 2015. Analysts were expecting 0.4% increase. For December 2015, revision of the preliminary outcome resulted in a decrease of 0.2% compared with November 2015, particularly due to the subsequent report of a major order (primary —0.7%). Read more...