EUR/USD Price forecast for the week of March 26, 2018, Technical Analysis

The EUR/USD pair initially fell during the week but turned around to rally enough to form a nice green candle. The market seems to be respecting the previous uptrend line still, and of course I still believe in the 1.21 level underneath to offer support. I think that it’s only a matter of time before the buyers return on short-term pullbacks, if we can stay above the 1.21 handle. It’s not until we break down below there that I think the uptrend is in trouble. We are forming a bit of a bullish flag, and we of course have a massive uptrend line that is offering an opportunity to go long. The 1.25 level above would be targeted, as it was previous resistance. A break above that level would be a “buy-and-hold” situation just waiting to happen, sending this market towards the 1.32 level, an area that I have marked due to a bullish flag that had broken out on the weekly charts.

EUR USD Forecast Video 26.03.18

I think that the market will continue to be very noisy, but it’s obvious that we are most certainly seeing an uptrend continue, so therefore I don’t want to fight it. The market will eventually build up the necessary momentum to break above the 1.25 level if the chart continues to go along the way it has. However, if we were to break down below the 1.21 handle, that would be a very negative sign and could send this market down to the 1.16 level rather quickly as it is the next major support barrier.