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Technical Analysis Daily: EUR/USD |
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Technical Archives |
Written by ZIFX.com |
Mar 31 09 00:27 GMT
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Technical Analysis Daily: EUR/USD
EUR/USD 1.3230
EUR/USD Open 1.3182 High 1.3288 Low 1.3124 Close 1.3584
In March Euro/Dollar sharply rose and tested the resistance at 1.3725. Last week the European currency made a downward correction, after failing to hold above 1.3725. Finally the currency couple made the break down of the trading range 1.3432 - 1.3730. On the weekly chart EUR/USD formed a convergence, and then sharply corrected downwards. On the daily chart the risk of recovery towards the region of 1.3850 is maintained until the currency couple holds above 1.3180. Going under 1.3180 may lead to decrease of the Euro with short term objectives towards the region of 1.3050, followed by 1.2920. Strengthening above 1.3365 will signal for growth.
Technical resistance levels: 1.3290 1.3425 1.3590
Technical support levels: 1.3125 1.3010 1.2900
Trading range: 1.3220 - 1.3280
Trend: Upward
Buy at 1.3230 SL 1.3200 TP 1.3270
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