FX forecast for Mar. 17

[EUR/USD:] After a longer period during which the EUR/USD pair has been revolving around the $1.35 – $1.36 levels, and the pessimists predicted a tragic fate for the European currency, in the next couple of days we could see a correction with an upward trend; the situation will become clearer once the $1.3845/50 level is tested, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. Yesterday the Federal Reserve left the base rate unchanged at 0.25 per cent. Moreover, it was promised that the US key rate would remain at the lower levels for a longer period. This prefigures the possibility of a rise in the euro/dollar pair and the first obstacle to that is the $1.3845/50 level, which is the first resistance level and also the Fibonacci correction level. The Financial Brains think this level won’t give in at the first try, but once broken, the rise could continue up to $1.41 – $1.42. Currently the euro trades at $1.3770 The support levels for today are $1.3730; $1.3670; $1.3640. [USD/MDL:] The Financial Brains consider that the depreciation of the dollar against the leu has stopped, with the dollar strongly placed at 12.38 – 12.43 lei. The rates predicted for today are: 12.38 – 12.40 lei (bid) and 12.48 – 12.53 lei (ask). [EUR/MDL:] 16.98 – 17.05 lei (bid); from 17.15 and higher (ask). For further details visit www.fb.md or www.financialbrains.eu