EUR/USD Price Forecast – Euro All Over The Place

The Euro has been all over the place during the trading session on Thursday, as we continue to see a lot of indecision as to whether or not money should flow into the state or out of it. Furthermore, the ECB is now going to start bond buying again, and that of course weighs upon the value of the common currency. Nonetheless, the gap underneath that got filled with a major one that went back a couple of years, so it will be interesting to see whether or not that actually holds. The market has bounced back above the 1.08 level, so it looks as if we are at least trying to fight to the upside. If the market can pick up a bit of momentum, then we could be looking at the 1.10 level above.

EUR/USD Video 20.03.20

To the downside, if we break down below the lows of the session for Thursday it’s likely that we could go looking towards the 1.05 level, but that level is truly interesting considering that the longer-term support on the monthly chart most certainly is important at that area. Otherwise, we could be looking at parity. I don’t know that happens anytime soon, and therefore I would be willing to put money to work at the 1.05 level to the upside as well. However, as we are facing a health crisis it’s a little bit different of an animal than most financial types, myself included, are used to dealing with.