EURUSD Forecast, March 7

The EURUSD pair traded around 1.1300, powerless  to break in either direction, in front of the ECB meeting and the NFP data tomorrow.

After a short test of the 1.1290/85 band earlier this week, EURUSD figured out how to recover a lukewarm buying interest and progress to the 1.13 handle ahead of the ECB meeting.

Daily studies are overall bearish, regardless of a few occasional bullish attempts.

Headlines that the ECB would downgrade its growth forecasts for 2019 at first had just an humble effect on European and US yields. Later yields drifted. Nonetheless, the ECB will presumably keep up the presumption that current slowdown is temporary in nature.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.