Community Forecasts for March 30-April 3: EUR/USD 1W Chart

Source: Dukascopy Bank SA
© Dukascopy Bank SA
During the previous trading week ended on March 28, the EUR/USD currency pair was much more stable than during several weeks before. The Euro started the trading around 1.0843 level against the Dollar, posting a marginal decrease, but then, managed to keep the bullish sentiment almost during the whole week, showing only minor losses. On Tuesday, the single European currency started to rebound, after data showed the economic recovery in the Euro area gained traction last month, with private sector activity expanding at a faster than expected pace. The Euro zone's PMI rose to a 46-month high of 54.1 points in March, from 53.3 points reading in February, affected by lower oil prices and the weaker Euro. On the next day, the European currency resumed its hopeful tendency, due to Germany's composite PMI, which reached 55.3 points in March compared to 53.8 points in February. On Thursday, the Euro was moving above 1.10 level, as weak data on US durable goods, which declined a seasonally adjusted 1.4% in February,  strengthened the case for delaying a potential interest rate hike. Nevertheless, the Euro turned lower on Thursday, as US jobless claims fell to a five-week low, pushing the Greenback broadly higher. Despite, the minor loses, the pair closed last trading week on the rather strong note at 1.090 on Friday's evening. 
This week traders' sentiment is bullish, as 61% voted for the pair's rebound. Concerning important news from the Euro zone, market participants can pay attention to the preliminary data on consumer inflation and the monthly employment report on Tuesday, while Germany is to report on retail sales and the unemployment rate on the same day. Additionally, the US  is going to round up the week with government report on non-farm payrolls, the unemployment rate and average earnings. 

© Dukascopy Bank SA
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