EUR/USD, 1.1200/25 as monthly resistance for 13 months!

mario urlic forex eur-usd 29.03.

After the pair fell bellow 1.1200 in March 2015., there was no month in wich EUR/USD closed the same above 1.1200/25 and this is the 13th consecutive month in which the pair could also close bellow. You can see that there was several months in wich the buyers have reached higher levels, mostly 1.1500 in 2015., but the sellers are ready and steady all the time, waiting for the optimists. Could we see another try to reach 1.1500 in April? Why not!? Sure, there was so many interesting developments in March, the ECB cut rates, FED didn’t hike the same and despite opposite expectations, the euro is holding extremely well in the market versus the main opponent, the US dollar. Well, there is no central bank decisions in April and that could be chance for the buyers to try this move again, to reach 1.1500. Because, the pair don’t want to go down and what can’t go down, must go up, right!? I see 1.1000/30 and 1.0950/70 as a strong support from this point and it could be place for the huge players if the sellers could rach that at all. Keep this monthly chart in mind and don’t trade intraday based on this analysis and prediction.

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