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  4. EUR/USD Bullish Switch on Short Term Trend

EUR/USD Bullish Switch on Short Term Trend

March 20, 2017 14:34

The US is on track for 3 hikes this year, and a few more in following years,but there were mentions during previous week that the ECB too may shift to normalising rates also in due time, so at this point we might see a possible change in direction on this pair. The POC zone is 1.0725-40 (L3, trend line, EMA 89, ATR pivot 23.6) and if 1.0670 stays strong we might see 1.0800 and 1.0840. The uptrend has been established by strong momentum candle (highlighted in green) and it seems we might see a continuation. Watch for any rejections from POC and break of 1.0780 if it happens short term.

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