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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