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

This image is no longer relevant

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
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback