The PMI has increased the point 53,7 at eurozone, which is maximum for the last 3 years, German IFO has increased from 105.7 till 106.7 that supported EuroStoxx and Dax, but stock investment funds started hedging the exchange rate risks by selling euro.
Daily forex forecast/signal EUR/USD on March 24
“Bears” on EUR/USD try to break the bottom border of the ascending channel. The main goal is still at the level 1.1400, but the down trend on the RSI can continue toward the support level, which let the EUR/USD quotations escape the channel and demonstrate the further falling. Expect the rebound up at the area 1.1190 and return of the euro rate growing within the forecast EUR/USD for 24 March 2016, but breaking this area will lead to the falling toward the area 1.1100.
