EUR/USD Price Forecast March 14, 2018, Technical Analysis

The EUR/USD pair exploded to the upside during the trading session on Tuesday, as we have broken towards the 1.2380 level. Ultimately, the market looks likely to go looking towards the 1.24 handle, and then the most important level on this chart: the 1.25 level. If we can break above there, then the market explodes to the upside and continues to go much higher. On the weekly chart I have recently pointed out that there has been a bullish flag broken to the upside, and it should measure to the 1.32 handle.

I believe that short-term pullbacks should continue to be buying opportunities, and I believe that we will eventually find value hunters coming back into the market. I think the volatility could continue, which is typical in a market that’s dominated by high-frequency traders. Ultimately, this is a market that I think will continue to see a lot of noise, but I also think it has so much in the way of upward momentum underneath that eventually we should continue to find value hunters.

At this point, I suspect that the 1.21 level is the bottom of the overall uptrend, and I think that unless we break down below there, it’s a most impossible to short this pair. Yes, we have seen the occasional selloff, but so far that has proven to be a buying opportunity.

Written by FX Empire