EURUSD Forecast – $1.19000 Is A Decision Level

by Mar 13, 2021Setups

EURUSD Forecast

EURUSD chart analysis

 

EURUSD pair price has seen some great movement this week. The price has started to sink down below $1.19000 and returned back up next to $1.2000 resistance.

The pair is in the indecision area because strong support $1.19000 has held the price from moving below and $1.20000 has held the price from moving up.

This week has ended almost on the same price as it has started. That tells me that the buyers and sellers did not have the strength to push the price in their direction.

EURUSD Daily Forecast 13_03_2021_1

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EURUSD Chart Forecast

As I can see on the chart the price is on the selling pressure in the last two weeks. But the price has come to the support where bulls are strong enough to prevent the price from further falling.

Even the bulls were strong enough to hold the price from falling, the market overview is much more inclined to fall more down.

If the price comes back again to $1.20000 and makes a bearish price action signal it will be a sign the price will move down below $1.19000 support.

That will open the road to $1.17000 which is the lower end of the previous range area from the end of the last year.

To change the market sentiment to bullish I want to see the price close above $1.20800 level which is a key level for buyers.

Until that happens I am bearish oriented and I will look for bearish trading signals.

Entry EURUSD: If you want to see how to play this scenario join G-Trader

If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

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The Forex market is not easily predictable and we need to prepare our self for bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

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Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.

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