EUR/USD Forecast March 15, 2012, Technical Analysis

The EUR/USD pair fell for most of the session on Wednesday to test the 1.30 support level. The area is actually a 200 pip “thick” zone, and as such we don’t consider it broken until we get below the 1.29 handle. The Euro has an amazing ability to completely ignore bad news, so we are cautious about this market at the moment. A daily close sub-1.29 will be needed to short it going forward. If we see a bounce, we prefer selling, but only after the pair stalls, perhaps at the 1.3250 level. Until we get one of these signals, we can hold tight.

EUR/USD Forecast March 15, 2012, Technical Analysis
EUR/USD Forecast March 15, 2012, Technical Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *