EUR/USD and GBP/USD Forecast March 29, 2017


The EUR/USD pair had a rough day as we ended up falling low enough to touch the 1.08 handle, and more importantly fill the gap from the Monday open. Now I think it’s only a matter of time before buyers get involved, and I recognize that there is a significant amount of support at the 1.0750 level underneath. Any type of bounce from that area could be a nice buying opportunity but I would wait for a daily confirmation in order to start putting money to work. I still think that the EUR goes higher, but short-term it looks as if we may need to pull back in order to build up a bit of momentum. That momentum should be a reasonably strong.

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