EUR/USD Price Forecast – Euro Extraordinarily Volatile

The Euro rallied significantly during the trading session on Monday, reaching as high as 1.1250 level before rolling right back over. At this point, the market also continues to show plenty of noise as the market has continued to see an absolute ton of concerns. At this point, the 1.1250 level should offer a bit of resistance, just as the 1.10 level underneath offering massive support. Overall, I think that this is a market that will continue to see a lot of rapid movements in both directions, so by all means I would be cautious about my position size, as we are simply moving on the most recent headlines.

EUR/USD Video 17.03.20

If we do break down below the 1.10 level, then it’s likely that the market goes looking towards the 1.08 level. That’s an area that should be massive support and if it were to give way then this whole thing would collapse. At the same time, I can say about the 1.1250 level should offer resistance but a break above there could send the market racing towards 1.14 handle, and then possibly even the 1.15 level. I think the only thing you can count on though is the fact that the market is going to continue to be very noisy so at best you are probably looking at a range bound type of scenario for small position size is. This is a market that is going to be moving on the latest headlines, and of course we don’t know what those are going to be. These types of conditions have been known to wipe out accounts, so caution must be your first priority.