26.03.202015:04 Forex Analysis & Reviews: EUR/USD analysis for 03.26.2020 - Upward target reached at the price of 1.0936 but potential for further bullish continuation and test of 1.1160

Corona virus news:

Exchange Rates 26.03.2020 analysis

After weeks of inaction and division, the leaders of the G20 major economies will hold an emergency video-conference summit to discuss the corona virus pandemic, but hopes of a coordinated global response remain low.

The summit on Thursday, nominally hosted by Saudi Arabia as this year's G20 chair, is likely to agree to fresh practical measures aimed at preventing a repeat of the disjointed approach to Covid-19. But an expected call for a coordinated large-scale monetary and fiscal stimulus is unlikely to extend beyond general rhetoric.Technical analysis:

EUR/USD has been trading upwards as I expected. The EUR reached my yesterday's upward target at the pice of 1.0936 but there is still plenty of the space for upside.

I expect further upside movement and my advice is still to watch for buying opportunities on the dips using the 15/30 minutes time-frame for better location.

New upward targets are set at the price of 1.1055 and 1.1160

MACD oscillator is showing positive reading and the slow line is going higher...

Resistance level is set at the price of 1.1055.

Support level is set at the price of 1.0890

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Petar Jacimovic,
Analytical expert of InstaForex
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