EUR/USD Price Forecast – Euro finds buyers on Friday
The Euro has initially fallen during the trading session on Friday but has found enough support just above the 1.12 level to turn things around and show signs of life again. The 1.12 level underneath continues to be massive support on longer-term charts, as it was an area that has shown buying pressure more than once. To the upside, the 1.15 level is the top of the overall range, and at this point with both of these central banks showing no signs of hawkish in this, it’s very likely that we will continue to see this range played. With that in mind, this bounce makes sense.
EUR/USD Video 01.04.19
On the other hand, if we break down below the lows that were made a couple of weeks ago, we could drift even lower. That seems to be a major break down if it happens, so obviously that would change a lot of markets around the world, not just this one. While this will be a very volatile pair, the reality is that we have seen quite a bit of life.
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Overall, this is a pair that is trying to make a “higher low”, and that of course is a good sign for the Euro in general. At this point it’s likely that it will take a certain amount of wherewithal to hang onto the pair, so those who cannot hang onto volatile pairs may struggle, but the nice thing about this pair is that we have well-defined levels.
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