Majors Monthly Forecast Mar 2016

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EURUSD: As long as 1.1059/1.1215/1.1466 resistance holds on a monthly closing basis, the outlook in EURUSD remains on the downside in the long term forecast towards the 1.0562 levels where a cut will open the 1.0000/0.9340 levels. Above 1.1466 will confirm short term bottoming and suggest that fall from 1.3993 – May 2014 highs – is over, and a rise towards the 1.2040/1.2750 levels couldn’t be ruled out..
Majors Monthly Forecast Mar 2016-EURUSDGBPUSD:
As long as 1.4228/1.4565 resistance holds on a monthly closing basis, long-term forecast in the GBPUSD remains on the downside towards the 1.3655/1.3500 levels, above 1.4565 faces a recovery risk towards the 1.5238 levels before the next fall, further upside will extend recovery towards the 1.5929 levels. (Note: a clear break above 1.4228 -broken support turned resistance will open the 1.4565 levels)..

Majors Monthly Forecast Mar 2016-GBPUSDUSDJPY: As long as 116.13/121.48 resistance holds on a monthly closing basis, long term forecast in USDJPY remains on the downside towards the 10.99/105.43 levels, above 116.13 will open the main resistance 121.48, above 121.48 will suggest that fall from 125.84 is over, and a rise to 127.63 levels is likely…

Majors Monthly Forecast Mar 2016-USDJPYUSDCHF: AS long as 0.9785 support holds on a monthly closing basis, long term outlook in USDCHF remains neutral with risk to the upside towards the 1.0327 levels, above 1.0327 will open the 1.0783 levels, below 0.9785 faces a pullback risk towards the 0.9071 levels before the  next rise…Majors Monthly Forecast Mar 2016-USDCHF

 

 

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