Forex trading plan for March 10
By Kira Iukhtenko
The ECB meeting on Thursday will be in the limelight: the majority of analysts believes that the ECB will announce additional stimulus measures, pulling the EUR/USD much lower from the current levels. Break below the 1.0940 support could open the way to 1.0820 and lower. Key resistance lies at 1.1050.
GBP/USD is also trying to develop a descending impulse, but the sellers are much weaker here. We recommend selling on a break below 1.4170, targeting 1.4100.
AUD/USD broke to 0.7500. Despite the overbought market conditions, the bullish impulse is rather strong. Buying around 0.7510 seems to be a good idea these days.
USD/JPY is developing an upward momentum as well. However, it’s too early to call it a reversal: we need a break above 114.50.