Source: PaxForex Premium Analytics Portal, Fundamental Insight

French Consumer Confidence for March came in at 91. Economists predicted a figure of 90. Forex traders can compare this to French Consumer Confidence for February, reported at 90.

The Preliminary Spanish CPI for March increased 0.8% monthly and 3.2% annualized. Economists predicted a rise of 0.6% and 3.1%. Forex traders can compare this to the Spanish CPI for February, which expanded 0.4% monthly and 2.8% annualized. The Preliminary Spanish Harmonized Spanish CPI for March increased 1.3% monthly and 3.2% annualized. Economists predicted a rise of 1.2% and 3.3%. Forex traders can compare this to February's Harmonized Spanish CPI, which expanded 0.4% monthly and 2.9% annualized.

Eurozone Economic Sentiment for March is predicted at 96.3. Forex traders can compare this to Eurozone Economic Sentiment for February, reported at 95.4. Eurozone Industrial Sentiment for March is predicted at -9.0, and Eurozone Services Sentiment at 7.8. Forex traders can compare this to Eurozone Industrial Sentiment for February, reported at -9.5, and Eurozone Services Sentiment at 6.0. Final Eurozone Consumer Confidence for March is predicted at -14.9. Forex traders can compare this to the previous Eurozone Consumer Confidence for February, reported at -15.5.

US Crude Oil Inventories Change for the week ending March 22nd are predicted at -0.700M. Traders can compare this to US Crude Oil Inventories Change for the week ending March 15th, reported at -1.952M. US Gasoline Inventories Change for the week ending March 22nd are predicted at -1.650M, and US Distillate Stocks Change at 0.518M. Traders can compare this to US Gasoline Inventories Change for the week ending March 15th, reported at -3.310M, and US Distillate Stocks Change at 0.624M.

The forecast for the EUR/USD remains cautiously bullish after this currency pair stabilized at its horizontal support area with rising bullish momentum. Short-term volatility could accelerate during this holiday-shortened trading week following a bearish crossover between the descending Tenkan-sen and the ascending Kijun-sen. The Ichimoku Kinko Hyo Cloud adds to upside pressure after the ascending Senkou Span A completed a bullish crossover above the flat Senkou Span B. Traders should also monitor the CCI after it recorded a higher low in extreme oversold territory. This technical indicator has plenty of upside potential, and a breakout above -100 could trigger a rally. Can bulls regain control over the EUR/USD and pressure this currency pair into its horizontal resistance area? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

Should price action for the EUR/USD remain inside the or breakout above the 1.0800 to 1.0835 zone, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Long Position
• Entry Level: Long Position @ 1.0825
• Take Profit Zone: 1.0980 – 1.1020
• Stop Loss Level: 1.0760

Should price action for the EUR/USD breakdown below 1.0800, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Short Position
• Entry Level: Short Position @ 1.0760
• Take Profit Zone: 1.0665 – 1.0695
• Stop Loss Level: 1.0800

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