EURUSD Daily Forecast: March 16

By @ibtimes on

EURUSD Forecast

The EURUSD was volatile but indecisive yesterday. Price attempted to push lower but found a good support around 1.3860 and whipsawed to the upside and slipped above 1.4000 but still unable to make a clear break above 1.4000 – 1.4035 key resistance area so far. There are no changes in my daily outlook where overall price still trapped in range area of 1.4035 – 1.3740 and need a clear break from either side to see clearer direction. The bias is neutral in nearest term. Aggressive traders can short around 1.4000 – 1.4035 with tight stop loss. Immediate support at 1.3900. A clear break below that area would change the intraday bias to bearish retesting 1.3860. On the upside, a clear break above 1.4035 would continue the bullish continuation scenario targeting 1.4150 – 1.4281 this week.

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