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EUR/USD Forecast 25 Mar 2016

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EUR/USD Forecast 25 Mar 2016
4.8/5 of 6 ratings

We don’t expect strong movements of the pair EUR/USD today

Yesterday the pair EUR/USD showed a decline and descended to 1.1176. In Germany GfK consumer climate index was 9.4 against expectations of 9.5, import prices fell by 0.6% against the forecast of -0.3% in February.

Today Catholics have Good Friday. The US markets are not working, but since the Good Friday is not a federal holiday, the statistics will be published. The US will publish GDP for the 4th quarter in the final assessment, forecast unchanged 1.0%.

On Monday, European countries will still rest, and the US markets will be open and we'll get data on personal spending and home sales. Personal spending is expected to increase by 0.1%.

The pair EUR/USD is traded in correctional downlink, the lower limit is located at 1.1148 low, while the upper boundary is located at 1.1187. Support and resistance levels remained virtually unchanged. The further reduction of the pair EUR/USD is limited by the 1.1154 area. The breakdown will allow the pair EUR/USD to decline to 1.1124.

How to trade

We would buy PUT options if the pair EUR/USD falls below 1.1154. We would buy CALL options if the price rises above the level of 1.1193.

Expiry time: 21:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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