EURUSD Weekly Forex Forecast – 10th to 14th April 2017
Technical Outlook: EURUSD has slipped below 1.0600 on Friday with the 4-hour candlestick closing with a doji. Depending on how Monday’s session opens we can expect to see some upside bias in prices. However, for this to occur, EURUSD must close back above 1.0600 and preferably above 1.0630 to confirm a continuation to the upside that could send prices back towards 1.0770 level where the recently breached support could be tested for resistance. However, in the event that prices continue to dip lower, expect further declines in EURUSD that could potentially push prices down to 1.0500.
Fundamental Outlook: Economic data from the eurozone is looking to another slow week next week with the main events standing out unlikely to move the single currency much. The Eurozone Sentix investor confidence is due on Monday and data is expected to show a modest decline to 20.1 from 20.7 previously. Industrial production figures will no doubt stand out next week with economists polled expecting a 0.2% increase compared to a 0.9% increase the month before.
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EURUSD Weekly Forex Forecast – 10th to 14th Mar 2017
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