EUR/USD Forecast March 12, 2012, Technical Analysis

The EUR/USD pair fell hard on Friday as the Non-Farm Payroll number came out better than expected. The Greeks we also finally labeled as being in default, and the CDS markets saw the insurance policies triggered. The fall was consistent with what one would expect, but the 1.31 level did in fact hold as support, and the area runs all the way down to the 1.30 mark. Because of this, we aren’t ready to sell yet, even with the bearish action. In order to do this, we need to see the market close below the 1.30 level on a daily close. Buying isn’t a thought at the moment as there are still many concerns in the European Union. 

EUR/USD Forecast March 12, 2012, Technical Analysis
EUR/USD Forecast March 12, 2012, Technical Analysis

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