Analysis and Forecast EUR / USD - Weekly review (28.03-01.04)

The situation on the eurodolarze has not changed and is consistent with what I presented in previous reports. For the record, let me add that the currency pair is in a correction of recent increases. Due to the proximity of support at 1.1144 (38.2% fibo abolition), the voice has come the demand side, which is trying to move toward the counterattack last local peaks. Therefore, it should be noted that in the next hours, the demand side should make another attempt to attack the local resistance 1,1187-1,1189. From the results of the success will depend on the future direction of the currency pair discussed. Therefore, it should be noted that if demand beats w / the resistance in this case, should be directed towards localized resistance levels 1,1220-1,1245. Any breaking them confirm that the fall from 1.1343 to 1.1144 was a technical correction and return to the further growth. The objectives will be the levels 1.1285, 1.1343 and 1.1495.

Otherwise, if the demand will have difficulty overcoming resistance levels 1.1189 and 1,1220-45, account must be taken back towards support at 1.1144. The demand side will certainly defend support, because its defeat could lead to further depreciation towards 1.1083 and 1.1021 levels. Particularly test this latter level would worry about, because this level corresponds to the 61.8% fibo abolition of recent increases and adjustments not often tolerate higher values.