EURUSD Daily Forecast Mar 18 2020

Forex-big 65985

EURUSD Bearish, Faces Further Downside Pressure…

The EURUSD remains on the downside as long as 1.1050 resistance holds on a daily closing basis. Support comes at 1.0930 level. A halt is likely, but a cut would open 1.0780 next, further down, support comes at the 1.0610 levels…

On the upside, resistance comes at the 1.1050 level. Above 1.1050 sees recovery threats to 1.1220/70 levels before another fall.

In conclusion: The EURUSD sees downside threats below 1.1050 levels…

Support: 1.0930, 1.0780, 1.0610, 1.0490

Resistance: 1.1050, 1.1220, 1.1270, 1.1370

EURUSD Daily Forecast Mar 18 2020Key data/events which may affect EURUSD today:
  • Eurozone CPI (YoY) (Feb) at 10:00 GMT. (Moderate).
  • U.S Building Permits (Feb) at 12:30 GMT. (Moderate).

*The economic effects of the spread of the Coronavirus in Europe and the world, in addition to the oil war between Russia and Saudi Arabia. All of this will affect the market very strongly.