The economic performance of the euro zone remains unstable: after short-term growth, inflation again showed a dropж in February, prices fell by 0.2% on year count. On a monthly basis, the increase was 0.2%, which was higher than expected. In his speech to the EU leadership in Brussels, Mario Draghi said that the ECB has no other way but to lower rates and expand QE program of action.
EUR/USD technical analysis and forecast for 03/21/2016 – 03/25/2016 week
Eurodollar continues to move to the upper boundary of the rising band that is provided by last week’s forecast of EUR/USD. On the daily chart, the RSI is approaching the resistance level, which confirms the expected test of 1.14 area, after which the pair is likely to decrease. Thus, forecast EUR/USD on the week suggests the euro rise to 1.1400.
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