EUR/USD Monthly forecast for March 2017
EURUSD currencies has been trading within a tight range over the month of February with not much of a breakout in either direction. The range for the entire month turned out to be only around 400 pips which, considering that its daily range is 100 pips on an average, indicates some very tight trading from the bulls and the bears. But, this is something that has to be be expected from the pair in recent times as there is not much news from the Eurozone or the ECB on the currency front.
The ECB had made it very clear, towards the end of the last year, that it would continue to be in the market for the whole of this year and probably for some part of next year as well. With the ECB having shown its hand for the entire year, there is not much to expect or anticipate as far as the euro is concerned, not only for February but for the rest of the year as well. So, the moves in this pair will be dominated by the strength and weakness of the dollar alone with the euro having little or no say. Trading EUR/US pair at the support region around 1.05. is for the short term and may not last long.
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