Analysis and Forecast EUR / USD - Weekly review (04.04-08.04)

FX:EURUSD   Euro Fx/U.S. Dollar
The currency pair reached a very strong resistance zone , located between 1,1437-95. Due to the very strong buying and the high density of these resistances, the beginning of the coming week should pass under the sign of the correction weakening of the euro             against the dollar. Therefore, you must reckon with the defense of the above-mentioned resistance by the supply side and the start of a correction, which would bear part of the gains from 1.1144 to 1.1437. The first props should be 1,1367-76 levels (peak of 11 February, which coincides with the 23.6% fibo recent increases). Further props will zone levels between 1,1325-43 (peak on March 17, which covers the 38.2% fibo recent increases). If the supply side will lead to a deepening of the correction, account must be taken back to around the level of 1.1290. After completion of the correction expect an attack on the last peaks of the level of 1.1495, inclusive. I would like to emphasize that around 1.15 formed a strong barrier to the demand side in the last several months, which is presented on the chart with the interval 1M. Any defeat last level opens the way towards 1.1885.
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