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27.03.2023 09:20 AM
EUR/USD: euro forecast to hit 1.1000 over the weekend

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EUR/USD, H4 chart

Over the weekend, some of the major business media outlets promised the market a EUR/USD rise to 1.1000. Their reason was the tough stance of the ECB on rate hikes, as well as some uncertainty of the Fed on the same issue. Experts believe that investors will sell German bonds and buy euros.

However, there is the banking crisis, which prompted investors to closely monitor the situation in banks, such as the Deutsche Bank. Although officials reassured markets that everything is fine, it is too early to say that the crisis is over.

This is why it is better to say that euro is in a range, which means that if there is growth, traders could sell from 1.1000.

If there is a decline, start buying around 1.0530.

Traders should also pay attention to the upcoming US inflation data this week.

Jozef Kovach,
Analytical expert of InstaForex
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