EURUSD Weekly Forecast 2nd - 6th March 2020
EURUSD has been rising for 6 consecutive days, with the Dollar undergoing retracement.
However, we have seen signs of support on the Dollar, and this may mean that EURUSD's bull trend has come to an end.
Fundamentally, the Eurozone economy has been slowing down, with growth rates confirmed to be at a 7-year low.
Germany, being the largest economy in the Euro is showing stagnated growth since early 2018 as well.
Therefore, it is highly unlikely for EURUSD to rise any further this week.
Await signs of resistance for sell opportunities with SL being set above the Supply Zones highlighted.
However, we have seen signs of support on the Dollar, and this may mean that EURUSD's bull trend has come to an end.
Fundamentally, the Eurozone economy has been slowing down, with growth rates confirmed to be at a 7-year low.
Germany, being the largest economy in the Euro is showing stagnated growth since early 2018 as well.
Therefore, it is highly unlikely for EURUSD to rise any further this week.
Await signs of resistance for sell opportunities with SL being set above the Supply Zones highlighted.
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