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EUR/USD forecast for the week of March 20, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Mar 18, 2017, 06:18 GMT+00:00

The euro initially felt during the week, but found enough support of the 1.06 little to turn around and bounce. By forming a relatively stable looking

EUR/USD weekly chart, March 20, 2017

The euro initially felt during the week, but found enough support of the 1.06 little to turn around and bounce. By forming a relatively stable looking candle. I think we’re going to try to break above the 1.08 handle. If we do, we could reach towards the 1.10 level, and then possibly the 1.12 handle. However, I think that given enough time the sellers will return as well, due to the central banks and their different interest rate policies. While the European Central Bank has suggested it is going to ease on the quantitative easing, the reality is that they are still doing QED, while the Americans are raising rates.

EUR/USD Video 20.3.17

About the Author

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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