EURUSD next tareget and upcoing data release 26 March

EURUSD Forecast Today:

The pair shows the recent decrease in the value of the US Dollar is causing downward pressure on the currency pair, possibly due to an increase in positive market sentiment towards riskier assets. The term “mid-tier US economic data” refers to economic indicators or data releases that are not considered high-impact like major economic reports such as GDP or employment figures. “ECB-speak” likely refers to speeches or statements made by officials from the European Central Bank (ECB) that are being closely watched or anticipated for their potential impact on the market.

Resistance Levels: Immediate Resistance: Around 1.0860. If the pair manages to break above this level, it could signal further upside potential.

Next Resistance Zone: Between 1.0890 and 1.0900. A sustained move beyond this zone might indicate a bullish trend continuation. Based on the smart money trading concept, the market is expected to revisit the recent low at the 1.0800 level. There seems to be some unmitigated liquidity at this level. After absorbing this liquidity, there is a potential for the market to break the recent high or resistance level at 1.0860. If the market successfully breaks this level, the final target is projected to be around 1.0890. forex signalIn summary, the expectation is for the market to first revisit the recent low at 1.0800, then potentially break the resistance level at 1.0860, with a final target of around 1.0890. Upcoming Data Release: The US Census Bureau will release Durable Goods Orders data for February. Expectations are for a 1.3% increase, following January’s contraction. A positive reading could initially boost the USD, but broader market sentiment will play a crucial role. US Stock Index Futures: In the early European session, US stock index futures are up by 0.2% to 0.4%. A bullish opening in Wall Street may provide an opportunity for EUR/USD to extend its recovery. Overall Outlook. eursud today While short-term movements can be influenced by data releases, keep an eye on the broader market sentiment. Any negative shift in risk mood could limit USD gains. Traders should monitor price action around the resistance levels mentioned above for potential trading opportunities. Find our latest trade update here

 
 
 
 

Register YOUR FREE Master Class on Smart Money Trading Concept

 

Get a FREE Foundation of Smart Money Course

Recent Posts