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FX.co ★ Forecast for EUR/USD on March 22, 2021

Forecast for EUR/USD on March 22, 2021

EUR/USD

This morning, since the markets opened, the euro opened with a bearish gap of 22 points and stalled around Friday's low. We believe that today's trade will take place by closing the gap, the price will settle before moving down, to targets like 1.1800, 1.1745, to the lows of November 23 and 11, 2020 since the trend is a decline according to all indicators. The report on sales in the secondary housing market in the US in February, the forecast for which is -3.0% against the growth of 0.6% in January, might be a tool in restraining the dollar's growth.

Forecast for EUR/USD on March 22, 2021

The price may linger on the reached MACD line on the four-hour chart. We do not expect the anticipated price growth to close the gap above the March 12 low, the 1.1910 level. The Marlin oscillator is in the negative zone, but even if the price rises above the 1.1910 level, it will still maintain its downward trend.

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Forecast for EUR/USD on March 22, 2021

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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