EUR/USD Price Forecast – Euro find support

The Euro initially fell during the trading session on Wednesday but found enough support underneath the 1.1250 level to turn around and show signs of life again. We have been in a major consolidation area for some time, and now it looks as if we are going to show reaction to it yet again. This should offer nice short-term trading opportunity, because the entire world knows that the 1.12 level is so crucial.

Euro to Dollar Forecast Video 28.03.19

At this point, the 1.1250 level has been the beginning of support for some time, and a bit of a bounce should be somewhat expected. I would also point out that the most recent high has been higher than the one before it, so  I do think that we are going to see a bit of a bounce. At this point, I think it’s fair to say that a short-term trading opportunity is starting to set up.

I don’t necessarily think that we are going to break out to the upside or clear the consolidation region, but at this point it’s very likely that we simply can play the range as we have been able to for some time, with the 1.15 level above being a major ceiling. The beginning of that resistance starts at the 1.1450 level, so it’s going to take a significant amount of momentum to break above the 1.15 handle. Overall, I think you just simply play back and forth until the market tells you to stop doing so. Right now, it seems as if we are ready to continue more of the same.

Please let us know what you think in the comments below