EURUSD Weekly Forecast 9th - 13th March 2020
EURUSD has been on a steep uptrend for 2 consecutive weeks, breaking supply zones and key price 1.2000.
Even though Eurozone's economy has been stagnated and slowing down, the main reason for the steep bull run is due to the FED emergency rate cut.
This caused widespread panic and uncertainty causing the Dollar to plunge even further.
However, US data posted strong numbers with NFP and unemployment rate being better than forecast.
With how overbought EURUSD is, this week we expect a retracement back to supply turned demand zone around 1.1160.
Even though Eurozone's economy has been stagnated and slowing down, the main reason for the steep bull run is due to the FED emergency rate cut.
This caused widespread panic and uncertainty causing the Dollar to plunge even further.
However, US data posted strong numbers with NFP and unemployment rate being better than forecast.
With how overbought EURUSD is, this week we expect a retracement back to supply turned demand zone around 1.1160.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.